The government component in the proposed Colombo South Harbour projects has propelled to about US$ 300 million from around US$ 220 million quoted earlier.
The new Freedom Alliance Government is expected to start courting bilateral donors for the funds by June.
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rnThe additional costs are to cover reclamation work in the proposed port, space that will be available for the private sector and the price of tug boats for the new facility, sources close to the project told LBO on Monday.rn
rnExpenses previously accounted for included an initial three kilometre meter breakwater and dredging in the south of the existing Colombo harbour. rn
rnThe new costs immerged, as sector legislators prepare to finalise an Asian Development Bank (ADB) sponsored business plan later in May to sell the South Harbour project to private investors. rn
rnThe 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 politic