Sri Lanka Port Authority records Rs11bn in profits for 2016

Arjuna-ranatunga

Mar 10, 2017 (LBO) – The Sri Lanka Ports Authority made profits of 11 billion rupees in 2016 while recording a revenue of 44 billion rupees, the Ports Ministry said.

Ports Minister Arjuna Ranatunga, in a statement, said that SLPA had cut operational spending to 20.2 billion rupees, down from 22.6 billion rupees in 2015.

SLPA paid 16.7 billion rupees as capital and interest payments on loans in 2016.

The privatized South Asia Gateway Terminals had paid 4.4 billion rupees in royalties to the port, while China International Container Terminals had paid 5.7 billion rupees. On the loss-making Hambantota Port 7.1 billion rupees was paid.

The statement said that the Galle and Trincomalee ports also made profits. “This was achieved mainly from cutting costs and reducing waste and corruption.”

“The port also earned 92 million rupees, following the raising of entry tickets to 300 rupees for trucks.”