China International Container Terminal to set up Service Supply Centre in Colombo Port
The China International Container Terminal (CICT) has proposed to set up a state-of-the-art Service Supply Centre within the Colombo Port in Sri Lanka to cater to booming future demand, according to local media reports.
To further evaluate the proposal and implement it on a Public Private Partnership (PPP) basis, Sri Lanka’s Cabinet of Ministers have decided to appoint a negotiating committee on the recommendation of the country’s Ports and Shipping Minister Rohitha Abeygunawardena.
The government of Sri Lanka has said the proposed centre formed part of the efforts to strengthen Colombo Port’s hub status within South Asia.
A land area of 5.3 hectares within the Battenburg and Bloemendhal area in Colombo and close to the Unity Container Terminal of Sri Lanka Ports Authority (SLPA) has been identified for the setting up of a service supply centre. It will be adjacent to the CICT, the South Asian Gateway Terminal (SAGT) and the Sri Lanka Ports Authority’s East Container Terminal (ECT).
The Sri Lankan government is committed to expanding the capacity at the Colombo Port with the launch of ECT as well as approving a joint venture project by India’s Adani Group and Sri Lanka’s John Keells Holdings to develop the West Container Terminal (WCT) by 2023.
According to reports, the two ventures are expected to boost Colombo Port’s throughput capacity to over 10 million TEUs from the present seven million TEUs.
OSL take:
Sri Lanka is committed to developing the country as a maritime hub in the South Asian region. The country’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka have also supported this move. Sri Lanka is also fast becoming a business hub in the South Asian region given the expansion of the country’s economy despite facing a global pandemic. Sri Lanka’s economy has shown great resilience to external and internal challenges through the years and is once again on the path to recovery after facing the impact of the global Covid 19 pandemic. Foreign businesses/investors could confidently explore the growing business/investment opportunities in Sri Lanka’s maritime industry.
| Article Code : | VBS/AT/20210728/Z_2 |