A US$500 million container terminal is to be developed at Sri Lanka’s Colombo Port after it was announced that the Sri Lankan Ports Authority (SLPA) and the Asian Development Bank (ADB) had signed a transaction advisory services agreement, according to Deal Street Asia.
Sri Widowati, Country Director for Sri Lanka at ADB, said the terminal will be a key transhipment hub for global and regional trade.
Widowati said: “The project will bring leading operations and technology from the private sector to improve the port’s value proposition to global shipping lines and increase its market share in the global trans-shipment market.”
Ryuichi Kaga, Head of the Office of Public-Private Partnership at ADB, said: “A transparent competitive tender process is expected to deliver the best value for SLPA for the construction and operations of the terminal and can help create a new template for structuring and delivering PPPs in Sri Lanka.”
