SLPA signs MoU with COSCO, China Harbour for feasibility study on $ 600 m dockyard in Hambantota

A Memorandum of Understanding (MoU) was signed last week between Cosco Shipyard Group Co. Ltd, China Harbour Engineering Co. Ltd and Sri Lanka Ports Authority (SLPA) to carry out a feasibility study on the proposed $ 600 million dockyard at the Hambantota Port.

The project will commence with foreign direct investment within one year’s period following the completion of a feasibility study.

Ports and Shipping Minster Arjuna Ranatunga speaking at the occasion said that the SLPA would be converted into a key state-run institution that will contribute significantly to strengthen the country’s economy via the five-year action plan of the Government.”

He also added that plans are already underway to develop Colombo, Galle, Trincomalee, Oluvil Kankasanthurai and Hambantota ports. Ports and Shipping Ministry Secretary L.P. Jayampathi said that this project would create a substantial number of employment opportunities in the region. 

Under this project not only ship repairs, but ship building and other ship services related activities would be carried out.