Called to Shore

Sri Lanka has asked the Asian Development Bank (ADB) to up a US$ 100 mn allocation to fund the Colombo south port to US$ 200 mn, nearly half of the estimated cost for the initial phase. Sri Lanka has asked the Asian Development Bank (ADB) to up a US$ 100 mn allocation to fund the Colombo south port to US$ 200 mn, nearly half of the estimated cost for the initial phase. It is understood that an ADB team here in early April to review progress with the technical assistance project that funded the feasibility and design stage of the south port project agreed to consider upping the banks allocation.

The team has however asked the government to first finalise a source for the remaining US$ 200 million of the estimated US$ 400 cost for the initial phase of the port projects.

The government needs a total US$ 400 mn for ground work, tug boats and a three kilometer breakwater before calling on the private sector to invest in port infrastructure.

Secretary to the ministry of ports Ariyarathna Hewage in an earlier interview confirmed the government’s request, but said the quantum was to be decided by the ADB.

Ministry sources meanwhile said the ADB is likely to meet the gover