Sri Lanka seeks Indian investor for Colombo Port

August 27, 2016 01:11 am

Sri Lanka is seeking an investor from India to build and operate a container terminal in Colombo port, amid a strong Chinese presence in the port.

Ports Minister Arjuna Ranatunga said they would like to see an Indian investor take at least a 20 per cent stake in a consortium that will run the ‘East Terminal’ of the expanded deep draught South Harbour of Colombo Port.

“We would like to see an Indian investor take at least a 20 per cent stake,” Mr. Ranatunga told members of Sri Lanka’s Foreign Correspondents Association on Thursday.

“More than 60 per cent of Colombo’s trans-shipment cargo comes from India,” Mr. Ranatunga said.

Sri Lanka Ports Authority had spent USD 80 million to build 430 metres of a 1200—metre terminal, he said.

Mr. Ranatunga said another USD 400 million would be needed to complete the terminal. -Agencies

Source: PTI

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