Anchors Away

The conditions of a US$ 150 million Asian Development Bank (ADB) loan to part fund Colombo’s long over due port expansion, will be finalized by early February. The conditions of a US$ 150 million Asian Development Bank (ADB) loan to part fund Colombo’s long over due port expansion, will be finalized by early February. A visiting ADB mission will also talk to the government on options to raise a balance US$ 200 mn to build initial infrastructure for the South Port, including a three kilometer breakwater.

The first phase of the South Port project included addition of six berths by 2007, and six more based on demand, to be built South of the current Colombo port.

However, political instability in the island nation has pushed back commitment from the government to build the new port to the south of the current Colombo port.

The government is now expected to woo private sector investors to build up to six berths proposed for the first phase of the 12 berth south port.

However, even if construction of the new port begins immediately, former SLPA chief Dr. Parakrama Dissanayake says, it would take at least three years for completion.

Dr. D