The newly expanded Colombo Port formally opened for business yesterday, a move that will allow Sri Lanka to enter as a leading South Asia trans-shipment hub. Sri Lanka President Mahinda Rajapaksa opened the port, which was also attended by Xiaoyu Zhao, Vice-President at the Asian Development Bank (ADB). With a new breakwater, deeper basin, and the first of three modern new terminals now open, Colombo Port can accept the latest generation of 18,000 20-foot equivalent units (TEU) container ships and has facilities to send goods faster and more cost efficiently to other ports in the region.