Category: Shipping and Transport
Sri Lanka to ink JV with Chinese firm to develop southern port
Dec 07, 2016 (Reuters) – Sri Lanka will take part in a joint venture with China Merchants Port Holdings Company Limited to develop a port in its south, where China has also been offered an investment zone. The cabinet approved a plan under which Sri Lanka will lease 80 percent of the Hambantota port to […]
Sri Lanka bus operators strike against fines; commuters stranded
Dec 02, 2016 (LBO) – Several private bus unions resorted to an islandwide strike from midnight last night against the budget proposal to increase traffic fines, resulting in a major inconvenience to the public. Sri Lanka Transport Board requested police protection for buses in operation today as several buses had been attacked. General Secretary of […]
Exporters say suspension of SVAT disincentive to exports
The EASL, whilst understanding the current state of the economy, find this budget is more of a corrective nature. It does not address the need to progress the export industry. Aspect such as improving standards of education, encouraging the growth of competitiveness of SMEs, aiming to attract FDIs and setting up a system under PPP […]
Sri Lanka to finalize Hambantota port deal by next month
Nov 18, 2016 (LBO) – Sri Lanka expects to finalize the deal with regard to the loss-making Hambantota port within three weeks, Ports Minister said. Minister Arjuna Ranatunga told Parliament Friday that under the new arrangement, the port will be operated as a PPP venture project between Sri Lanka and Chinese investors. “A Chinese company […]
Sri Lanka govt approves phase 2 of Central Expressway, only single bidders
Nov 09, 2016 (LBO) – Sri Lanka’s cabinet has given the nod to build the second section of Central Expressway which runs from Mirigama to Kurunegala for 39.29 kilometers. The contract in this regard has been divided into four (04) packages and only one set of bidders submitted proposals for each of four civil work contract packages. […]
UBER launches new rider app
(PRESS RELEASE) – Colombo, November 2, 2016: Uber, the ridesharing app, today announced the launch of its new rider app, rebuilt completely from the ground up for the first time, since the last redesign in 2012. Re-engineered keeping in mind the changing needs of riders around the world, the new rider app aims to recapture […]
Sri Lanka awards USD58mn railway tender to only bidder
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet nod has been given to award a tender to the only bidder who submitted a bid to supply six Diesel Multiple Units for the island’s railway system under an Indian credit line. A diesel multiple unit is a multiple-unit train powered by on-board diesel engines and it […]
‘s for multi-modal transport hub
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet of ministers has approved for the Megapolis and Western Development Ministry to call for expressions of interest to build a multi-modal transport hub starting from Fort, a statement said. “Urban Development Authority would be authorised to acquire lands in phases for a multi modal transport hub from […]
USD1 bln expected from Hambantota port sale: CB Governor
Nov 02, 2016 (LBO) – Sri Lanka could expect a one billion dollar inflow to the economy in about five months time through the sale of a stake in the Hambantota Port, the Central Bank Governor said on Tuesday. The equity proceeds of a sale of an 80 percent stake to a Chinese investor could […]
Sri Lanka to sell 80 percent of southern Hambantota port to Chinese firm
Oct 28, 2016 (Reuters) – Sri Lanka will sell to a Chinese company 80 percent of a $1.5-billion port in its south, where China has also been offered an investment zone, in a bid to cut the country’s debt burden, Finance Minister Ravi Karunanayake said. The move follows an offer made by Prime Minister Ranil […]
World’s oldest working full-rigged ship arrives in Sri Lanka
Oct 26, 2016 (LBO) – The world’s oldest working full-rigged ship with 27 sails, SS Sørlandet from Norway, has arrived in Colombo. The ship is on a two-year circumnavigation of the world, with 70 high school students from A+ Academy. During their stay in Colombo they will greet Sri Lankan maritime students, and the ship […]
Sri Lanka introduces electronic card to charge electric vehicles
Oct 24, 2016 (LBO) – Sri Lanka’s Power Ministry has introduced a new rate structure and an easy-to-use electronic card when charging electric vehicles. As per the new rates system, consumers will have the option of getting much lower rates for charging at off peak hours. The new tariff system proposed by the Ceylon Electricity […]