ADB to advise Sri Lanka port on equity partner for terminal

ECONOMYNEXT – The Asian Development Bank will advise state-run Sri Lanka Ports Authority to seek a 49 percent joint venture partner for a partly built terminal in Colombo port, the state information office said.

Sri Lanka wants a terminal operator or shipping line to help complete and manage the so-called East Terminal in the expanded Colombo South Harbour of which 450 meters has already been built.

The cabinet of ministers on February 10, had given the nod to appoint ADB as transaction advisor and call for Expressions of Interest and Business Proposals.

SLPA chairman Dhammika Ranatunga told EconomyNext that SLPA wanted a partner who would bring additional business to the port.

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