|
|
|
  |
| Sunday, 17 April 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Potential investment opportunities in port sector - SLPA chairman
Sri Lanka Ports Authority (SLPA) Chairman and member of the BOI Dileepa Wijesundara said that there are several investment opportunities with a significant rate of return in the port sector of Sri Lanka. Explaining the present business and investment climate in Sri Lanka to the business session of the "Danish Days in Sri Lanka" forum, Wijesundara said that there are a number of development projects in the Colombo Port, the gateway of Sri Lankan products to the world as well as other ports such as Trincomalee, Galle, Kankesanturai and the proposed Hambantota ports. Wijesundara said that by the end of last year the TEUs handled by the Colombo Port increased to 2.2 million TEUs, a significant increase from 1.9 million TEUs the previous year and there is great potential for growth. The SLPA passed the revenue target of Rs. 12 billion last year and earned Rs. 16 billion. The operational target of the Colombo Port this year is 2.5 million TEUs, Wijesundara said. The Jaya container terminal of the SLPA recorded a sharp increase in productivity and is in the forefront to the SAGT, the privatised terminal of the Colombo harbour. In March this year the SLPA exceeded its target and was far ahead compared to the SAGT, Wijesundara said. He said that the improvement in efficiency in the port sector was beneficial to importers and exporters. The development in the port sector is also stimulating investments in other sectors, he said. A number of short and long-term development projects are due to start in the Colombo Port and the projects are open to private investors. The jetty at the Colombo Port will be extended. Wijesundara said that large vessels are now under construction and are due to be in operation by 2009 and the extension would help facilitate those vessels. The project costs US$50 million. Work on the major equipment replacement project is also due to start soon. Wijesundara said that in the next three years US$ 50-100 million investment projects will be set up at the Colombo harbour. The Southern Port development project, the major long-term development project at the Colombo Port is a US$ 1.4 billion investment. The first phase of the project, the construction of the breakwater is now open for international bidding. After construction of the breakwater the terminal building will be started and the investments are open to the private sector. When these projects are completed the Colombo Port would be the main hub of the region, Wijesundara said. The Trincomalee Port will be developed as an industrial harbour but it has the potential of developing into a tourist harbour and related industries. Construction of the Hambantota Port is another large investment. The SLPA is considering to start the construction of bunkering facilities and it is an investment opportunity to the private sector. A major expansion project including construction of new berths in the Galle Port is also planned. Explaining the competence of the Sri Lankan ports compared to the region
Wijesundara said that our ports did not lose a single labour hour last year
due to labour unrest and we are in an advantageous position. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
