Sri Lanka: ADB Vice Chairman Visits Colombo Port
- Business & Finance
Wencai Zhang, the Vice Chairman of the Asian Development Bank (ADB), recently inspected the Colombo Port Expansion Project, according to news360.lk.
During this visit, Priyath Bandu Wickrama, the SLPA Chairman, explained the ongoing development work in the Colombo Port.
Colombo International Container Terminals Ltd. started these expansion works in December 2011. With an envisaged investment of US$ 500 million, including the installation of the latest state of the art terminal equipment, it is so far the single largest foreign direct investment in Sri Lanka by a private entity.
Colombo development program includes construction of breakwaters, dredging for new harbour basin and navigation channel and construction of new terminals and other related services.
ADB is one of the key financing agencies for the Colombo Port Expansion Project, reports news360.lk.
Dredging Today Staff, January 29, 2014