Port of Call

The business plans for Colombos South Harbour development was finalised last week, now requiring State approval to tap donor assistance to finance the US$ 300 million Government component of the project.
The Asian Development Bank sponsored business plan prepared by UK based consultants Scott Wilson Kirkpatrick and Company Limited was up for final approval by end April, but got grounded with the political impasse since November and followed up by the snap polls in early April.rn

rnThe Minister of Ports is now expected to call on the Cabinet or the Minister of Finance for approval to tap donor assistance for the Government component of the project, sources close to the project told Lanka Business Online on Monday.rn

rnThe government component in the proposed Colombo South Harbour projects went up to US$ 300 million from around US$ 220 million quoted earlier.rn

rnThe monies will cove the costs of reclamation work in the proposed port, space that will be available for the private sector and the pri