Category: Shipping and Transport

Two parties had expressed interest to invest in some of the thirteen bus companies the government wants to privatise.The evaluation of the bids are underway with the sale expected to happen next Thursday through the Colombo Stock Exchange.rn rnThe potential investors however have only shown interest in up to nine of the thirteen regional bus […]

Sri Lanka will join the fleet of countries that have adopted the World Trade Organisations agreement to standardise customs valuation procedures. Customs officials hope to implement the terms of the agreement from November, introducing a regime of fair, uniform and neutral valuation system, conforming to commercial realities and eliminating the use of arbitrary or fictitious […]

For centuries people of India and Sri Lanka have used the Palk Strait as a channel of transportation of goods and services. The economies of the two landmasses have gained immensely.But who would have expected this legendary Hanumantha (Or Hanuman) sea link to become a reality. rn rnThe two governments are drawing up a plan […]

Malaysian based Road Builder Holdings has become the sole contender to finance and manage the Colombo-Katunayake Expressway.Work on the US$ 130 mn highway has started with the Treasury allocating Rs.10 bn to Keangnam Construction Company.rn rnNearly 14 parties earlier expressed interest to finance and take over management of the highway, eventually running it as a […]

Container-traffic at the Colombo Port jumped by a mammoth twenty three percent in September, bucking an export growth trend.The Ports authority says the productivity at the Jaya Terminal at the Colombo port has also doubled with the introduction of a new incentive payment scheme.rn rnThe Jaya Container Terminal gantries are now shifting over seventy containers […]

The government plans to award the contract to build the Colombo-Matara superhighway later this month, top officials said.Transport Minister Tilak Marapane says construction on the long protracted Southern highway is likely to begin as early as November.rn rnThe Manila based Asian Development Bank has come forward with a US$ 90 mn loan while the government […]

Under the airport expansion plan covering some 700 acres, the two runways will have to be constructed leaving a 1.8 km distance. The distance is necessary to allow two of the biggest aircrafts to land at the same time.These jumbo planes are capable of carrying up to 500 passengers in addition to cargo.rn rnThe airport […]

Officials say a breakthrough in discussions with the Board of Infrastructure Investment (BII) is imminent, with the deal being finalised as early next week. rn rnWork on the highway began on a design and build basis two years ago by a Korean based construction company Keangnam, on a Treasury allocation of little over Rs. 10 […]

Private sector assistance is being sought for a nation wide motor vehicle emission reduction programme that will get off ground in January next year.In a phased out project, extended till June, all of the 1.5 mn-registered vehicles on Sri Lankas roads are being geared to meet with emission criteria laid out by law.rn rnThe Registrar […]

Keeping in line with its court promise, the Public Enterprise Reform Commission called for fresh bids to infuse private ownership into the cash starved 13 state transport companies.PERC said it was offering a 39 percent equity stake, out of the shares currently held by the Treasury on behalf of the government.rn rnProspective investors have to […]

The Public Enterprise Reform Commission (PERC) will shortly re-advertise the government quote s intensions to infuse private ownership into 13 cash strapped state bus companies.rn rnThe move to re-advertise the proposal comes following a court ruling on Tuesday, directing the government to give a clear indication as to how much it hopes to sell in […]

The government once again shelved plans to dispose 13 state run bus companies on the Colombo Stock Exchange until further notice.rn rnrnThe Public Enterprise Reform Commission (PERC) said Monday the divestiture of a 39 percent slice in the 13 transport companies has been put off.rn rnA petition filed in court against the transaction, pointing out […]