Sri Lanka port expansion delays cause concern: Hemas
Jun 06, 2018 13:18 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Delays in further expanding Colombo port with the addition of more container terminals is a cause for concern, Sri Lanka’s Hemas Holdings group has said.
Positioning Sri Lanka as an entrepot hub would undoubtedly supplement government efforts to boost foreign direct investment, the company told shareholders in its latest annual report.
Infrastructure investments and establishment of common user facilities are requisite factors in achieving entrepot hub status, along with unwavering support from government and other stakeholders, Hemas Holdings said.
“In this regard, the East Container Terminal not yet being commissioned and the port of Colombo currently operating at near maximum utilisation should be causes for concern,” the company said.
“There is a dire need for expansion and capacity increase to capitalise on the industry’s success.”
Hemas Holdings’ shipping business was among the fastest growing of the group’s busineses last year.
Colombo port had ascended rapidly to become the 23rd largest port in the world by container volumes the 13th best in the world by connectivity, the report said.
(COLOMBO, June 06, 2018)