Colombo Port to Boost Sri Lanka’s Economy

  • Business & Finance

Colombo Port to Boost Sri Lanka's Economy

Sri Lanka has facilities to handle mega carriers with the infrastructure and support system which is on a par with other large ports in the region. Sri Lanka is positioned in a strategic location which should be exploited to boost business in the ports and shipping sector, expert said.

“During the recent past, port sector development has been expedited with the rapid progress of work in the Colombo South Harbor project and the commissioning of the bunkering facilities at the Hambanota Port,” Chairman Ports Authority Chairman Dr Priyath Bandu Wickrema said.

The Colombo Port handled around 4.4 million containers last year.

Port sector experts said that Sri Lanka will be a transshipment hub and compete with other ports in the region. Around 80 percent of cargo coming into Sri Lanka is transshipment cargo.

Sri Lanka Ports Authority, Managing Director, Capt. Nihal Keppetipola said that hinterland connectivity must be developed to enhance the benefits of mega ships. Less trucks coming into ports will help save time and cost and improve competitiveness in pricing and productivity levels.

[mappress]

Source: slpa.lk, August 7, 2014

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