Sri Lanka Opens $500 Million Port Built by China

[Lankan Ranger]

Sri Lanka Opens $500 Million Port Built by China

Sri Lanka opened a $500 million container terminal at Colombo Port today, the biggest investment in the Sri Lankan harbours, as the nation seeks to upgrade its infrastructure with Chinese help.

The new terminal is part of Sri Lanka’s plan to add 7.2 million boxes of capacity and deeper berths at its main port to attract larger vessels. China is tightening its embrace by committing at least $3.7 billion since 2005 to help expand Sri Lankan ports.

The Ports Authority is also building another container terminal with an annual capacity to handle 2.4 million boxes at the Colombo port, which will be ready for operations early next year, Chairman Priyath Wickrama said today.

Colombo’s three other terminals had the capacity to handle 5 million 20-foot equivalent units. China Development Bank provided a $350 million loan to China Merchants in May 2012 for the company’s terminal, in which the Hong Kong-based port operator holds an 85 percent stake.

Sri Lanka’s port developments have helped attract $2 billion worth related private investments, Wickrama said.


Sri Lanka Opens $500 Million Port Terminal Built by China - Bloomberg

 

[HeinzG]

In your face India......

 

[chhota bheem]

In your face India......

Why ???? even indian ships will be using the port.thanks for developing the port.

 

[Gibbs]

Jeez.. This is the 4th thread on the subject

 

[HeinzG]

Why ???? even indian ships will be using the port.thanks for developing the port.

We captured the market share from prospective Indian ports.

 

[Contrarian]

We captured the market share from prospective Indian ports.

So what? India is also opening newer ports. Indians dont say 'in your face Sri Lanka' for that.

Ports are good for SL, ports are good for India.

 

[HeinzG]

So what? India is also opening newer ports. Indians dont say 'in your face Sri Lanka' for that.

Ports are good for SL, ports are good for India.

That's because India do not have a port like Colombo in Southern India where all the transhipment are done. India tried very hard you know but.... in the end it was Colombo time to shine.

 

[Contrarian]

That's because India do not have a port like Colombo in Southern India where all the transhipment are done. India tried very hard you know but.... in the end it was Colombo time to shine.

Transhipment can only be done in Sri Lanka because it falls in the middle of international routes..unless we build the Sethusamudram project.

For domestic transhipment, new ports are being built.

 

[Gibbs]

That's because India do not have a port like Colombo in Southern India where all the transhipment are done. India tried very hard you know but.... in the end it was Colombo time to shine.

Nothing much to harp about.. First our benevolent dictator decided to grant Chinese 85% of the ownership, A national crime.. Second most of the transhipment is from and to India.. So if India decides to show the middle finger Rajapaksa will have to either give it to the Chinese for a base or open a waterfront restaurant in it

 

[HeinzG]

Transhipment can only be done in Sri Lanka because it falls in the middle of international routes..unless we build the Sethusamudram project.

For domestic transhipment, new ports are being built.

India will not build sathesamudram...

 

[kurup]

In your face India......

85% ownership to china and just 15% to Srilanka .

More like , in your face itself lankans .......

That's because India do not have a port like Colombo in Southern India where all the transhipment are done. India tried very hard you know but.... in the end it was Colombo time to shine.

India is going to build the Vizhinjam port in kerala .

http://www.thehindu.com/news/cities/Thiruvananthapuram/work-on-vizhinjam-port-to-start-soon/article4920306.ece

 

[chhota bheem]

what i see is India benifitting from the improvement of the port as much as Srilanka.10 years down the line you will findout.

 

[Gibbs]

India is going to build the Vizhinjam port in kerala .

Work on Vizhinjam port to start soon - The Hindu

India is about 8 years behind the port infrastructure of this magnitude..That's quite a way off and by that time Colombo South will be more established with mega shipping lines along with the bunkering facilities of Hambantota port, It will be a bit too late to break the monopoly given the strategic position of both ports

 

[kurup]

India is about 8 years behind the port infrastructure of this magnitude..That's quite a way off and by that time Colombo South will be more established with mega shipping lines along with the bunkering facilities of Hambantota port, It will be a bit too late to break the monopoly given the strategic position of both ports

Maybe you are right . I am not well versed with the shipping business .

 

[harpoon]

85% ownership to china and just 15% to Srilanka .

More like , in your face itself lankans .......



India is going to build the Vizhinjam port in kerala .

Work on Vizhinjam port to start soon - The Hindu

No offence...but we are building Vizhijam port for years now.