Staying Afloat

The Colombo South Harbour project will set sail in January 2003 when consultants to draw detailed engineering plans are appointed.
Sri Lanka Ports Authority Chairman, Parakrama Dissanayake told Lanka Business Online that details of the short listed candidate were submitted to the Asian Development Bank (ADB) for its approval prior to cabinet endorsement.rn

rnA US$ 10 million grant will come from the ADB as part payment for the planning stage of the port project, while the Sri Lankan government will add US$ 4 million.rn

rnFrom appointment the consultants are expected to take 15 months to study and draw detailed plans for the project. rn

rnConstruction of the Colombo South Harbour will cost US$ 1.8 billion, Dissanayake estimates, with an additional US$ 250 million going towards erecting a breakwater.rn

rnDissanayake says that private sector capital will be sought for the construction of the south port, to participate on built, operate and transfer basis (BOT). rn

rnAlready a number of firms a