Sri Lanka’s Hambantota port needs to be made viable: Minister


June 17, 2015 (LBO) – Sri Lanka’s Hambantota port should be transformed to a level of making profits as in the case of the Colombo Port, Ports and Aviation Minister Arjuna Ranatunga said.

“We must make Hambantota a viable port and get it on the right track and develop it. This is the issue that is facing the Chairman and the directors,” Ranatunga said.

“The unfortunate thing is that at the moment we have to pump the money earned from Colombo port to the Hambantota port,”

“Whatever that has happened in the past we need to learn from it and get it right.”

However, Ranatunga says the port is receiving a lot of interest from investors.

“So we are getting a lot of investors who want to come and invest in Hambantota port,”

The Minister was speaking at a press conference held to announce the forthcoming “Colombo International Maritime Conference 2015” which is to be held from 24 to 26 September 2015.

Operating profits at Sri Lanka Ports Authority fell 53.4 percent to 2.4 billion rupees in 2013 with revenues also down 2.3 percent to 37.2 billion rupees, despite an increase in container volumes in Colombo, official data showed.