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Sri Lanka Welcomes Launch Of Mega Port

by Lorys Charalambous, Tax-News.com, Cyprus

05 August 2013


The Government of Sri Lanka has welcomed the completion of the first phase of the expansion of Colombo South Port to accommodate the world's largest shipping vessels.

The project, undertaken as part of a joint venture between Hong Kong-based China Merchants Holdings International and the Sri Lanka Ports Authority, involved dredging an 18 meter draft to allow port calls from mega vessels carrying up to 18,000 twenty-foot equivalent units (TEUs).

The port authority anticipates that the expansion project, with USD500m in investment, will boost the port's capacity to process up to 12 million containers each year, up from 5 million presently.

To mark the completion of the first phase on August 5, 2013, the Port will welcome its largest vessel to date, a 12,000 TEU container vessel.

The Government of Sri Lanka hopes that the expansion project will position Colombo South Port as a major transhipment hub in South Asia, being uniquely able to accommodate Triple-E class vessels.

TAGS: marine

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