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Sri Lanka Opens $500 Million Port Built by China
Sri Lanka opened a $500 million container terminal at Colombo Port today, the biggest investment in the Sri Lankan harbours, as the nation seeks to upgrade its infrastructure with Chinese help.
The new terminal is part of Sri Lankas plan to add 7.2 million boxes of capacity and deeper berths at its main port to attract larger vessels. China is tightening its embrace by committing at least $3.7 billion since 2005 to help expand Sri Lankan ports.
The Ports Authority is also building another container terminal with an annual capacity to handle 2.4 million boxes at the Colombo port, which will be ready for operations early next year, Chairman Priyath Wickrama said today.
Colombos three other terminals had the capacity to handle 5 million 20-foot equivalent units. China Development Bank provided a $350 million loan to China Merchants in May 2012 for the companys terminal, in which the Hong Kong-based port operator holds an 85 percent stake.
Sri Lankas port developments have helped attract $2 billion worth related private investments, Wickrama said.
Sri Lanka Opens $500 Million Port Terminal Built by China - Bloomberg
Sri Lanka opened a $500 million container terminal at Colombo Port today, the biggest investment in the Sri Lankan harbours, as the nation seeks to upgrade its infrastructure with Chinese help.
The new terminal is part of Sri Lankas plan to add 7.2 million boxes of capacity and deeper berths at its main port to attract larger vessels. China is tightening its embrace by committing at least $3.7 billion since 2005 to help expand Sri Lankan ports.
The Ports Authority is also building another container terminal with an annual capacity to handle 2.4 million boxes at the Colombo port, which will be ready for operations early next year, Chairman Priyath Wickrama said today.
Colombos three other terminals had the capacity to handle 5 million 20-foot equivalent units. China Development Bank provided a $350 million loan to China Merchants in May 2012 for the companys terminal, in which the Hong Kong-based port operator holds an 85 percent stake.
Sri Lankas port developments have helped attract $2 billion worth related private investments, Wickrama said.
Sri Lanka Opens $500 Million Port Terminal Built by China - Bloomberg