The Sri Lanka Ports Authority (SLPA) has called for Expressions of Interest (EOI) for the development of the East Container Terminal (ECT).
The Government of Sri Lanka recently approved a proposal forwarded by Ports Minister Arjuna Ranatunge. The cabinet of ministers on February 10, gave the nod to appoint the Asian Development Bank (ADB) as transaction advisor and call for Expressions of Interest and Business Proposals. In the master plan of Colombo Port Expansion Project, the East Container Terminal has a 1200m long Quay wall, alongside water depth of 18m and a yard capacity of 2.4 million TEUs.
SLPA will seek a 49 percent joint venture partner for a partly built terminal in Colombo port. SLPA hopes to retain 51% controlling stake of the ECT.
The private partner will help to complete and manage the so-called East Terminal in the expanded Colombo South Harbour of which 450 meters has already been built as the first phase. The length of the full terminal will be 1,200 m.
This first phase consists of a 440 m quay wall alongside water depth of 18m and successfully completed in May 2015 with a project cost of US$80 million.
Government of Sri Lanka (GOSL) has identified the expansion of Port of Colombo to cater the increasing demand of services in the international shipping industry. After comprehensive studies the proposed development project is called "Colombo Port Expansion Project (CPEP)".
The project is part of the Colombo Port Expansion Project, which is situated west to the existing port of Colombo comprising an area of approximately 600 hectares. The new harbour will have 3 terminals each having 1,200 m length and facilities to accommodate 3 berths alongside.
The capacity of Port of Colombo, which had a capacity about 4.5 million TEUs, will be increased by another 7.2 million TEUs in two separate phases under this development.