Sri Lanks Invest $190mln on ECT Terminal
Sri Lanks will invest a sum of US$ 190 million to installs gantry cairns and also add other infrastructure to the East Container Terminal, said Sagala Ratnayaka, the Minister of Ports, Shipping and Southern Development.
He said Sri Lanka Port Authority (SLPA) would initially invest this amount and then get it reimbursed from Japan International Cooperation Agency (JICA) under a loan agreement.
Ratnayaka said that the passenger terminal in the Colombo Harbour too would be developed. “We want this passenger terminal to be in par with the Singapore Cruse terminal to attract vessels that would pick up and drop passengers in Colombo.”
He said that the Kankesanthurai Harbour development is also taking place with the assistance of the Indian Government.
“The Port of Colombo has managed to remain afloat under challenging circumstances but where do we grow from here? The Port of Colombo has arrived at a crossroads. I stated in January that growth will dwindle, as crucial decisions had not been made over the past four years to increase the port’s capacity. Therefore we fast-tracked the decision-making process in the East Container Terminal (ECT),” he said.
He reiterated that the ECT will ensure the Colombo Port will not lose deep-draft ships to competition and continue to ensure profitability in a sustained manner.