ADB Supports Upgrade of Colombo Port through PPP

23 February 2016

Sri Lanka's Colombo Port will be expanded through a public–private partnership (PPP) initiative, with support from the Asian Development Bank (ADB).

The Sri Lanka Ports Authority (SLPA) and ADB signed a transaction advisory services agreement on 23 February 2016, in the presence of Sri Lanka Finance Minister Ravi Karunanayake and ADB President Takehiko Nakao, to upgrade the port's East Container Terminal (ECT).

The project will bring leading operations and technology from the private sector to improve the port’s value proposition to global shipping lines and increase its market share in the global trans-shipment market, said Ms. Sri Widowati, ADB Country Director for Sri Lanka. It will maintain Colombo Port’s strategic position as a key trans-shipment hub for global and regional trade.

The $500 million project will

  • Operationalize the existing 400 meters of deep water berth; 
  • Supervise/implement the full design, build, finance, operation, and maintenance of the remaining 800 meters of berth.

The ECT concession is likely to run for 35 years.

The 400-meter berth at the terminal was constructed by SLPA with an investment of $80 million. In 2008, a $300 million loan from ADB financed the construction of the breakwater of the Colombo Port.

Transaction advisory services are provided by ADB to support the whole range of activities associated with the development and implementation of PPP projects—including project conceptualization, preparation and marketing, and negotiations. It is supervised by the ADB Office of Public–Private Partnership, established in September 2014, to enhance ADB's role in supporting and enabling member governments to secure greater private investment and generate economic growth in the region.

Related Links:

The National Board of Revenue (NBR) of the Government of Bangladesh is set to open National Single Window...

Read More

Bhutan will build the Gelephu Smart City Project in the Gelephu Special Administrative Region (SAR) to facilitate more...

Read More

Mr. Shakti Bahadur Basnet, Nepal Minister for Energy, inaugurated on 11 December 2023 the Kushma-Butwal power transmission line...

Read More

The Government of Bangladesh and the Asian Development Bank (ADB) signed an agreement for the ...

Read More

The Asian Development Bank (ADB) has approved $336.5 million loan financing under the Asia Pacific Vaccine Access Facility...

Read More

The King of Bhutan, His Majesty Jigme Khesar Namgyel Wangchuck, paid an official visit to India on 3-10...

Read More

Bangladesh Prime Minister Sheikh Hasina and India Prime Minister Narendra Modi inaugurated the Akhaura-Agartala railway link during an...

Read More