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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Six -lane road connectivity from southern highway to Kataragama..

Six -lane road connectivity from southern highway to Kataragama..

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Rizmi

Rizmi
Manager - Equity Analytics
Manager - Equity Analytics
There will be a six lane road connectivity from the Southern Highway to the oil pipeline in Hambantota up to Kataragama, under a project embarked by the Sri Lanka Ports Authority. (SLPA), Sri Lanka Port Authority Director Technical, Datta Gunasekera said, at the India Shipping Summit 2012 yesterday.

Giving an analysis on major maritime development projects in Sri Lanka, he said that Sri Lanka Ports Authority has embarked on three key development projects recently to increase the capacity in three ports namely Colombo South, Hambantota and Oluvil, while a sum of Rs. 575 Million had been invested for Colombo South harbour and Rs 368 Million for Hambantota. The Hambantota Port could cater to the import and export business once completed. Four value addition industries too will be set up following this process.

He said the SLPA was trying to capture the true potential of the Asian market through the development of the ports.

The Colombo South harbour has space for 3 container terminals and the 5.1 Km long main breakwater was the single largest breakwater undertaken so far by the SLPA. Roads between terminals will be widened with an investment of Rs 15.5 Million.The construction will commence mid next year and will be fully operational by 2016. In order to fulfill certain shortages, the Colombo Port has to commence work on the south container terminal by 2016 and west terminal after 2020.

Meanwhile, the east terminal was scheduled to commence work in the near future.

The SLPA has insisted that the oil pipeline carrying crude oil, has to be totally replaced at an additional cost of US$ 18 Million, which was progressing smoothly. The investment on the Oluvil Port to the value of 40 Mn Euro, will be completed by August 2012. The port will have modern facilities for fish processing and storing up to 500 tons of fish.

Colombo Dock Yard CEO Mangala Yapa, speaking on attracting investments, said that selecting the correct partners was the key to success. It was not only the physical infrastructure that was required, but look into many aspects to provide profits to shareholders even during vulnerable times.

Trincomalee's Port City project has also got the nod of the investors with several entrepreneurs responding positively.

With the request for proposals closing recently for the Trincomalee Port project, both foreign and local investors in ship building and repair, cement bagging and the canned fish cannery had forwarded proposals for evaluation. The Ports Authority will be investing Rs. One billion to provide infrastructure for these projects to get off the ground.

http://www.dailynews.lk/2012/07/12/bus01.asp

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