Sri Lanka to accelerate development of Port of Galle
Daily FT: The Ministry of Ports, Shipping, and Aviation has formulated plans for the development of the Port of Galle into a tourist port.
The plans entail the construction of two backwaters, measuring 850 m and 150 m respectively. Additionally, the harbour basin will be dredged to a depth of 12.05 m, and a new passenger terminal will be built.
To address environmental and wildlife concerns associated with these constructions, a special meeting was convened on 2 May, initiated by Ports, Shipping, and Aviation Minister Nimal Siripala de Silva and with the participation of the Wildlife, Forest Resources Conservation, and Irrigation Minister Pavithra Wanniarachchi, and Health and Industries Minister Ramesh Pathirana.
Minister de Silva pointed out that delays in the construction at the Port of Galle were due to ineffective measures in addressing environmental and wildlife issues. It was proposed that the Department of Wildlife submit an Environmental Impact Assessment Report within one week. Furthermore, the Minister instructed officials of the Sri Lanka Ports Authority (SLPA) to call for Requests of Interest from both local and foreign investors interested in contributing to the development project based on the aforementioned report.
Minister Wanniarachchi directed officials of the Department to expedite the submission of the Environmental Impact Assessment Report within one week, ensuring the resolution of all environmental issues to facilitate the development program at the Port of Galle.
The Ministry of Ports, Shipping, and Aviation underscores that a total of $ 200 million will be allocated by SLPA for the development programme at the Port of Galle.
OSL take:
The Sri Lankan government has decided to develop and upgrade the ports located island wide with the aim of expanding the country’s maritime industry. Some port development projects have already received fund pledges from multilateral financial institutions, thereby ensuring funding for project implementation. Sri Lanka’s geographical positioning in the Indian Ocean, especially in close proximity to the international shipping lines have expanded the country’s maritime industry. The main sectors in the industry that have shown expanding business/investment opportunities in the country’s maritime industry are the port, shipping and logistics sectors. Therefore, the development of the country’s ports located island wide provide lucrative business opportunities, especially in the development of supplementary infrastructure facilities required by the growing industry. With Sri Lanka on a path to becoming an emerging regional hub, there is a steady growth in the business/investment opportunities in the country’s maritime industry. The ongoing activities and expansion in Sri Lanka’s maritime industry will ensure a steady growth and expansion in the industry that would in turn present a steady line of business/investment opportunities for foreign businesses to engage in.