ADB to advice on Colombo Port’s East Terminal bid

Monday, 15 February 2016 00:00 - - {{hitsCtrl.values.hits}}

Cabinet last week decided to appoint the Asian Development Bank (ADB) as transaction advisor to the Colombo Port’s East Terminal project.

A decision to invite Expressions of Interest and Business Proposals from interested parties was also approved by the Cabinet on a proposal made by Ports and Shipping Minister Arjuna Ranatunga.

The second deep-water terminal in the Colombo Port Expansion Project is the East Container terminal.

It has been planned to commence terminal operations as joint venture arrangement with a shipping line or a private terminal operator with 51% of equity owned by the Sri Lanka Ports Authority.