Port Call

June 04, 2013 (LBO) – Sri Lanka’s Hambantota Port has drawn about a billion US dollars in investments in a second call for investors, the state port agency chairman Priyath Wickrama said. Eleven manufacturing and processing for export industries with combined value of a billion US dollars had been selected by a cabinet appointed negotiations committee, he said.

“It is in the final stage awaiting cabinet approval.”

A first call to investors drew over 800 million dollars of investments with firms ranging from cement manufacturing, sugar refining, plastics and warehousing coming in.

The Hambantota Port is positioned initially as an industrial port, and a bunkering hub.

Sri Lanka Ports Authority is also expected to begin bunkering from the port from around July after testing of its facilities are completed.

The port is built with Chinese financing and has space for container handling expansion in its third stage.