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Sri Lanka’s Hambantota Port to get a warehouse facility for dry bulk cargo

Sri Lanka’s Hambantota Port to get a warehouse facility for dry bulk cargo

The Morning: A warehouse is to be constructed for dry bulk cargo inside the Hambantota International Port (HIP) and, according to a press release issued by the Port, it is to be considered the largest warehouse facility in Sri Lanka inside a port.
Accordingly, an agreement was signed between Siam City Cement (Lanka) Ltd. (INSEE Cement) and Hambantota International Port Group (HIPG) for aforesaid construction.
“The warehouse project will contribute to increasing the supply chain efficiency. It is an investment that will accelerate operational effectiveness. INSEE is the first bulk cargo customer of the port since the port’s inception and the largest volume contributor. It is a win-win collaboration between INSEE and HIP,” said INSEE Cement General Manager – Supply Chain Yasas Kasthuriarachchi.
The warehouse which will store raw materials used in the production of cement, will have a capacity of 45,000 m3. It will be built on an area of 17,300 m2, in the Hambantota Port Industrial Park. The warehouse will enable INSEE to improve the efficiency of cargo discharging operations and further enhance their vessel turnaround time which will save forex for the company as well as the country.
“Due to the deep draft of the port, INSEE is able to handle bigger cargo parcels enabling the economies of scale advantage. The experienced HIP team with efficient cargo operations provides INSEE with a service that is on par with any top-level port in the world. We have helped them achieve higher productivity which is the key for any port user,” stated HIPG Chief Operating Officer (COO) Tissa Wickramasinghe.

OSL take:

Sri Lanka’s geographical positioning in the Indian Ocean and the strong trade ties enjoyed by the country have helped boost opportunities in Sri Lanka’s maritime industry, especially in the ports, shipping and logistics sectors. The country’s ongoing development programme has also covered the development and expansion of Sri Lanka’s maritime industry. Apart from the Colombo Port, the Hambantota Port is fast expanding its business creating new business opportunities. With Sri Lanka moving towards building itself as an emerging business destination in the South Asian region, foreign businesses/investors could explore the expanding opportunities in Sri Lanka’s ports, shipping and logistics sectors.

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Article Code : VBS/AT/27042022/Z_4

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