Sri Lankan Ports Authority planning $10 billion investment


During a meeting between the Sri Lanka-Germany Business Council of the Ceylon Chamber of Commerce, Sri Lankan Ports Authority (SLPA) Chief, Dr. Priyath Bandu Wickrama announced plans to invest heavily in port development.

According to the SLPA chief the Sri Lankan government is planning to invest up to US$10 billion to help develop the ports sector in the years leading up to 2020.

Dr. Wickrama noted that since 2008, the government had already invested $2.2 billion to develop the port and related infrastructure.

A marketing campaign is now underway to attract investors from across the globe, alongside a number of major shipping lines to help fund the improvements.

Speaking at the meeting, Dr. Wickrama stated that the authority was hoping “to attract major shipping and related industrialists to set up offices in Colombo” Sri Lanka’s largest port.

The announcement comes at a time of growth and increased productivity across the nation; the SLPA recorded a 12.3 percent increase in TEU transhipment operations last year, with Colombo handling up to 3,208,117 TEU.

Speaking of the Hambantota port and industrial zone, Dr. Wickrama said that the operation had already attracted 18 investors, at a total value of $1.8 billion.

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