Colombo South container terminal construction:
SLPA signs deal with China, Aitken Spence Consortium
Charumini DE SILVA
Sri Lanka Ports Authority (SLPA) signed a letter of intent (LOI) with
the China Merchant International Holding and Aitken Spence Consortium to
construct the Colombo South container terminal yesterday.
The Colombo South Harbour work in progress |
The terminal will be constructed on a Build Operate and Transfer (BOT)
basis and will be developed on a public-private partnership.
The total investment of the project is US $ 450 million. The project
will be completed before 2012 for operations, a senior Sri Lanka Ports
Authority official told Daily News Business.
With the opening of the Colombo South container terminal, the SLPA
will have the capacity to handle another 2.4 million Total Equivalent
Units (TEUs). The Colombo port handles over four million TEUs monthly
now.
The official said the Colombo East and the West container terminals
are also under construction and with the completion of those two
terminals by 2020, the Authority expects to handle 10 million TEUs
monthly.
The terminals will be developed with modern technology such as
computerized terminal management systems. The use of latest technology
will help to increase the throughput, vessel turnaround, productivity
and the revenues of the Colombo port.
The on-going Colombo harbour expansion infrastructure projects will
be completed within the scheduled time frame of April next year. Of the
main 5.1 Kilometre breakwater, 3.1 Kilometres has finished work.
“Expansion of the Colombo harbour will be a boost to the Sri Lanka’s
shipping industry”.
It will also facilitate the private sector investment in the country.
It is one of the most important projects to uplift the facilities of the
Colombo port. It is now under way and making a commendable progress, he
said.
The project will promote economic growth by improving Sri Lanka’s
competitiveness in the ports sector by expanding Colombo port using
public-private partnerships and facilitate economic growth by enhancing
national competitiveness in international trade via lower transport
costs and faster delivery times, the official said.
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