Slow Boat

A senior ADB official due later in March on a tsunami mission, is expected to check up on the state’s commitments to the long overdue Colombo south harbour project. A senior ADB official due later in March on a tsunami mission, is expected to check up on the state’s commitments to the long overdue Colombo south harbour project. All pre-construction work including a business plan, detailed studies, tender document and a regulatory framework has been completed with ADB funding.

The ADB has also allocated US$ 100 million for a US$ 400 million breakwater spanning three kilometres for the south harbour and for dredging and reclamation work.

The government is expected to raise the remaining US$ 300 million from donors.

A Colombo port official said the government was due to begin negotiations with donors by mid last year.

Industry watchers said an alternative for the government would be to find a private sector investor willing to fund the breakwater construction along with the port infrastructure.

Earlier estimates from the Colombo south port project office totalled to US$ 280 million for port infrastructure in the first phase of development t