Sri Lanka’s Ports Minister says maritime development plans to be accelerated
Ports, Shipping and Southern Development Minister of Sri Lanka Sagala Ratnayaka has reportedly assured that all maritime development plans will be accelerated and has outlined some of the key projects in progress.
“I assure that no plans of the ports and shipping sector will be delayed. I will take the right decisions and move forward. It is imperative that we move ahead with the development of the port of Colombo, otherwise we will lose out on business and we don’t want that to happen. We have already delayed too much, so I don’t want to be stuck in that situation any longer,” the Minister has told journalists at the first press conference after assuming duties at the Ministry.
The Minister has believed that the Sri Lanka Ports Authority (SLPA) master plan supported by the Asian Development Bank (ADB) would lay a robust foundation for the ports and maritime sector’s development until 2050.
“We had a lengthy meeting with the ADB officials on Wednesday regarding the SLPA master plan, and its proposals for all the ports in the country. It is a comprehensive program that will serve as a roadmap for the sector’s growth. These studies have been conducted technically by specialists who have worked on it and proposed to us a few models that could be implemented till 2050. We are still having discussions with the ADB, and soon we will review and execute plans accordingly,” Ratnayaka has said.
According to the Minister, the government is in the process of deciding the course of action on the much-talked-about East Container Terminal (ECT) in the port of Colombo.
“I have requested the Ministry Secretary and the SLPA to present their observations on the matter. They will have to evaluate if it is financially viable for the SLPA to invest in the ECT project alone, or if it should require a partnership with an external party. Based on their recommendation, I will discuss the matter with the President, Prime Minister and the Cabinet,” the Minister has been quoted as saying in the media.
The Minister has further noted that the government was conducting a technical evaluation to further expand CICT without distracting the developments of the West Container Terminal of the Colombo port, where they hope to set up an LNG plant.
“We will build all these terminals based on the demand we have as well as on the capital involved to develop them,” Ratnayaka has said.
OSL take:
The Sri Lankan government is working towards achieving the target of hub status in maritime and logistics for Sri Lanka in the Indian Ocean region. The statement made by the Ports and Shipping Minister of Sri Lanka is an encouraging sign for Sri Lanka’s maritime sector. The many developments taking place in the sector indicates an increase in investment/business opportunities in Sri Lanka’s ports, shipping and logistics sectors. Interested foreign businesses/investors could explore opportunities to engage in the country’s ports, shipping and logistics sectors as well as look at building supplementary infrastructure facilities along with the ongoing development programmes.
| Article Code : | VBS/AT/25022019/Z_2 |