The newly expanded Colombo Port, a successful public-private partnership project that received a $300 million ADB loan, will cement Sri Lanka's position as a major transshipment hub in the region for many years to come. The port can now accept the latest generation of container ships and can move goods faster and cheaper to other ports in the region.
Transcript
Title: Colombo Port Upgrade
Description: The newly expanded Colombo Port, a successful public-private partnership project that received a $300 million ADB loan, will cement Sri Lanka's position as a major transshipment hub in the region for many years to come. The port can now accept the latest generation of container ships and can move goods faster and cheaper to other ports in the region.
Sri Windowati
Director Transport and Communications Division, SARD
Asian Development Bank
Q: How will the expansion of Colombo port help shipping in Sri Lanka?
A: It definitely will secure the strategic position of the Colombo port. Colombo port is ideally located to serve as a hub for transshipment of container from one liner to another. However, it wasn’t able to accommodate in the primary European, Asia shipping lines for almost 60% of the call for surfaces because of the limited berthing depth. And the current development really helps to remove this constraint with a deeper basin, with a new facilities, with a new breakwater, Colombo port will regain its important role as the leading transmission hub in the region.
Q: What will be the knock-on effect of the port on the Sri Lanka economy?
A: It’s not only the direct benefits from the increase transshipment traffic but also that the Sri Lankan’s export industry will benefit with the lower freight costs and the faster delivery times. It will really improve the competitiveness in the international trade. It will also attract the potential investment in the country for setting up new manufacturing and distribution centers.
Q: Will the port make a difference to regional trade?
A: With the new facilities the Colombo port will make a difference not only in the regional trade but also in the international trade. You know in the regional most of the ports facing congestion problems. Colombo port with the new facilities offer competitive shipping options. This will benefit the regional trade. Also there is an increase in demand for transshipment between Asia and European shipping lines and this is basically mostly operated by the major shipping lines. Colombo is now ready to accommodate this mega vessels coming to the port.
