ADB, SMBC Ink Colombo Port Co-Advisory Agreement

The Asian Development Bank (ADB) and Sumitomo Mitsui Banking Corporation (SMBC) have signed an agreement to provide the co-advisory services to the East Container Terminal (ECT) of Colombo Port in Sri Lanka.

SMBC will join ADB’s ongoing advisory services for ECT as co-adviser in relation to preparing, structuring and procuring the $500 million project, which includes operationalization of the existing 440 meters of deep water berth and the full design, build, finance, operation and maintenance of the entire 1,200 meters of berth.

The concession for the ECT is likely to be for 35 years.

“This co-advisory agreement will allow the Sri Lanka Port Authority to benefit from the in-depth market experience of SMBC and to structure and tender a bankable project without crowding out private sector advisers,” said Ryuichi Kaga, Head of ADB’s Office of Public-Private Partnership (OPPP).

“ADB will continue to proactively create advisory opportunities for private sector advisers.”

On 23 February 2016, Sri Lanka Port Authority (SLPA) and ADB executed a mandate letter setting out the terms of ADB’s appointment as transaction adviser to SLPA in relation to the project. ADB selected SMBC to act as its co-adviser.

The agreement is the first co-advisory arrangement since ADB signed a public-private partnership (PPP) co-advisory memorandum of understanding with eight leading global project finance banks in May 2015 on the sidelines of ADB’s 48th Annual Meeting of its Board of Governors in Baku, Azerbaijan.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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