BoC funds SLPA's East Container Terminal
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General Manager, BoC, D M Gunasekera presents the financing
agreement to SLPA Chairman Dr. Priyath Bandu Wickrama. SLPA
Managing Director Capt. Nihal Keppetipola and BoC Senior
Deputy General Manager, International and Treasury, P. A.
Lionel, Deputy General Manager, Corporate and Offshore
Banking, D P K Gunasekara,, Assistant General Manager,
Corporate Relations, C Amarasinghe look on. |
The Bank of Ceylon (BoC), the largest commercial bank in the country,
signed a financing agreement for Rs 10.50 billion with the Sri Lanka
Port Authority (SLPA) to develop the East Container Terminal (ECT) under
the Colombo Port Expansion project.
This project is facilitated through leading infrastructure
development provider Hyundai Engineering and Construction Co. Ltd of
Korea and is expected to be completed in 2015.
Sri Lanka is strategically located in the Indian ocean at the centre
of East-West maritime routes.
SLPA has been proactively involved in maintaining its competitive
position amidst stiff competition from regional ports.
SLPA sources said the development of the ECT will bridge capacity
shortfall and sustain its strategic role in the Port of Colombo.
With the construction of the ECT, SLPA expects to have a deep draft
berth to cater to new generation deep draft vessels, increase container
handling capacity, reduce ship waiting time in the port, increase
efficiency with the latest equipment and have a green port facility.
The Bank of Ceylon being the catalyst of development in the country
has made long-term funding of various infrastructure projects such as
ports, road development and water projects in line with the Mahinda
Chinthana vision of rebuilding the future. The Bank of Ceylon is the
biggest contributor to the development of the Port of Colombo as the
local partner. |
