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.

Share this article

Follow Dredging Today

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Eastern Chapter WEDA Fall 2019 Conference

Wednesday (10/16/19) afternoon will start the program with an opportunity to take the Dredging 101 course.

read more >

10TH Annual Conference Dredging in India

The conference will focus on strategies and solutions to meet the future dredging requirements…

read more >

Australasian Coasts and Ports 2019

Conference Theme “Future directions from 40°S and beyond” reflects the increasing awareness about the need to find suitable…

read more >

PORTS Conference

The PORTS Conference series is internationally recognized as an outstanding opportunity to network with…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Dredging jobs in Abu Dhabi at NMDC

National Marine Dredging Company “NMDC” aims to be the largest dredging player in the Arab’s Gulf region...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below....

apply