Opportunity Sri Lanka | » Sri Lanka’s government pledges new land for common container yard
Sri Lanka’s government pledges new land for common container yard

Sri Lanka’s government pledges new land for common container yard

The Morning: President Anura Kumara Dissanayake has promised to grant new land for the construction of the proposed common container yard in order to move away from the current reliance on private container yards, according to Sri Lanka Customs.
Speaking to The Sunday Morning Business, Sri Lanka Customs Media Spokesperson Seevali Arukgoda stated that a land in Kerawalapitiya had previously been selected for the construction of the proposed common container yard.
This parcel of land had thereafter been granted to a third party by the previous regime.
However, Arukgoda revealed that the President had assured that a new land would be granted to Sri Lanka Customs for the purpose of establishing the proposed common container yard.
Commenting on the possible timeline for the establishment of the proposed common container yard, he stated: “Firstly, we have to identify a land, after which tenders have to be called to identify a suitable builder. Therefore, it is difficult to arrive at a timeline. However, we have been informed that the process will definitely commence soon.”
Accordingly, he stated that the Ministry of Transport, Highways, Ports, and Civil Aviation had commenced the process of identifying a suitable land for the construction of the proposed common container yard.
Arukgoda further stated that a feasibility study had earlier been carried out by the Asian Development Bank (ADB) on the suitability of the previously identified land in Kerawalapitiya for the construction of the proposed container yard.
Accordingly, a similar feasibility report will now have to be obtained again in respect of the new land as well.

OSL take:
Sri Lanka’s target of becoming a hub in the South Asian region, supported by the country’s strategic positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka with many foreign countries have increased activities in many key economic sectors in the country. The overall expansion in the country’s economy has also added to the expansion of a key sector like logistics. The expansion in the logistics sector in-line with Sri Lanka’s target of achieving hub status in the region, have opened up new business/investment opportunities for foreign businesses/investors. It is in such a backdrop that the Sri Lankan government is also looking at land to set up a common container yard. The increase in the number of containers being handled by the key ports in the country, especially the Port of Colombo, has resulted in the need to expand the local logistics sector. Hence, the need for the development of infrastructure and supplementary infrastructure facilities related to the logistics sector in the country have presented many lucrative business/investment opportunities for foreign businesses/investors. With Sri Lanka on a steady growth path with an expansion in trading activities, the opportunities in key sectors like logistics would present a host of evolving business/investment opportunities in the local sector with openings for collaborations between local and foreign logistics businesses.

Share this:

Article Code : VBS/AT/20250103/Z_3

    For More Info and Help






    Leave a Comment