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Pearl of the Asian silk route

02 Jul 2011 - {{hitsCtrl.values.hits}}

The Government intends to reclaim the country’s position as the pearl of the Asian silk route after completing the over US$330 million Colombo Port Expansion Project (CPEP) which is expected to be completed in April 2012, the Ports and Aviation Ministry said.

“The Government intends to make Sri Lanka the leading maritime centre in the South Asian region by developing the ports and giving them high priority in the near future,” Ports and Aviation Deputy Minister, Rohitha Abeygunawardena said.

The Colombo port will provide breakwater construction and harbour channel dredging sufficient to accommodate three 1200 meter long terminals which will be constructed sequentially. Each terminal will consist of three 400 meter long berths and will accommodate a 2.4 million cargo carrying capacity per year, the Minister said.

He said the project includes the establishment of a new marine operations center, relocation of a submarine oil pipeline, navigational aids and the construction of shore utilities. “By May this year there was a 65% physical progress of the project,” he said.

“Major vessels which are unable to access the Colombo port will soon be able to enter the new port and the container handling capacity will be doubled. The port will reduce time taken for import and export procedures, while increase competition between marine companies will lead to reduced shipping charges. The port will also enable farmers to export their products to markets worldwide enabling farmers and entrepreneurs globally to benefits as well,” the Minister said.

He added that the project will create more than 4000 employment opportunities. The Minister said that Asian Development Bank is funding 80% of the project and the residual cost is borne by the Sri Lanka Ports Authority. (Olindhi Jayasundere)

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Pearl of the Asian silk route

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