Colombo Port promises $ 2.5 b in investment

Monday, 26 October 2026 00:18 - - {{hitsCtrl.values.hits}}

Sri Lanka Ports Authority Chairman Dr. Parakrama Dissanayake - Pic by Ruwan Walpola

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By Darshana Anayasingha

Over the next two years, the Port of Colombo will attract over $ 2.5 billion in investment, as the South Asian transshipment hub expands its capacity up to 14 million Twenty-foot Equivalent Units (TEU) from its current 10 million TEUs.

Speaking at the closing session at the Sri Lanka Economic and Investment Summit organised by the Ceylon Chamber of Commerce, Sri Lanka Ports Authority Chairman Dr. Parakrama Dissanayake, said the Colombo Port will his 9 million TEUs this year, and explained when utilisation goes above 70% there can be productivity and efficiency challenges and the capacity enhancement to 14 million by 2028 is welcome.

Discussing investments into the Colombo Port and the sector, Dissanayake said 90% of equipment in the East Container Terminal is already in place. He also pointed out that unlike in the past shipping lines aren’t looking merely at port to port but also point to point, and Colombo logistics hubs are also outside the port. Therefore, a landbank of 14 acres within the port is being looked at and work is expected to commence over the next two months to ensure we maintain a competitive advantage. This project will attract close to $ 400 million in investment. An ADB funded study is also underway for the construction of a breakwater and addition of a further 3 million TEUs, to bolster the 14 million already in play. The estimated investment is close to $ 1.6 billion, and many agencies have shown interest in financing the development, Dr. Dissanayake said.

“What a lot of people don’t know is our contribution towards the global economy. If you look at our 80% of transshipment; what is the value of this transshipment? It’s about $ 250 billion. That’s our contribution towards global trade. Also, it must be noted that congestion is not a problem of the Colombo Port in isolation. It’s a problem with disruptions in the supply chain. In some far superior ports, in terms of size, to get a berth you have to wait 8 days. In Colombo, we have a berth in place but you can’t get a ship in because the ship is stuck at the previous port. This is a global issue and part of a larger problem,” the Ports Authority Chairman stated.

Trincomalee post is still under consideration as an energy hub, and talks are underway with India to expand Kankasanthurai with a possible grant of over $ 60 million. Dr. Dissanayake also pointed to a concept titled the Colombo North Port, which will look at adding a further 11 million TEUs in time to come. Another seldom known fact, he said, is that over 500 vessels are serviced off the Port of Galle every month, as Colombo is at full capacity. Hambantota too is ramping up operation and even competing with Colombo, as vehicle transshipment volumes see significant growth. The deep south port will also grow capacity to 10 million TEUs in time to come.