Sri Lankan government to develop Trincomalee Port as a major international port
Sri Lanka’s Minister of Roads and Highways, Ports and Shipping, Johnston Fernando has reportedly said that the Trincomalee Port in Sri Lanka’s Eastern Province would be turned around as a major international port following recent inspection tour of the port.
Fernando has said that Trincomalee is the world’s second largest natural harbor in the world and potential to make a profitable harbour is huge. “We need private sector thinking going in to making this harbour a viable venture.”
The Minister has further noted that currently only Prima Ceylon and Tokyo Cement are widely using the services of the port while Indian IOC also uses if for limited bunkering facilities.
“We will revisit the agreements signed with the government by both Prima Ceylon and Tokyo Cement and see how the existing agreements could be improved.”
The Minister has added that they have no intension of either privatizing or leasing out the Trincomalee Port, but needs to look at developing it.
OSL take:
Sri Lanka’s geographical positioning in the Indian Ocean has placed much prominence on the island as a maritime hub in the Indian Ocean region. Sri Lanka also plays a key role in China’s Belt and Road Initiative. All this has resulted in the expansion of business/investment opportunities in Sri Lanka’s maritime/logistics sectors.
| Article Code : | VBS/AT/20200122/Z_8 |