Colombo’s East Container Terminal out of the blocks

The Washington (DC)-based US International Development Finance Corporation (DFC) is lending US$553M to Colombo West International Terminal Private Limited (CWITPL), the developers of a new deepsea container terminal in the port of Colombo, Sri Lanka.

Sri Lanka’s President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa officiated at a ceremony to mark the start of work on Phase II of the East Container Terminal (ECT) at Colombo this month

Although India-based Adani Ports and Special Economic Zone Ltd (APSEZ) and its Sri Lankan agent were reportedly given ‘in-principle approval’ by the Sri Lanka cabinet in early November to sign a deal with the Sri Lanka Ports Authority (SLPA) to develop/operate the East Container Terminal (ECT), at the time of writing, it was uncertain whether a final agreement would be concluded.

The Port of Colombo crossed the 6M TEU mark on 22 December, a 4.6% increase on container traffic in 2016.

South Asia Gateway Terminal (SAGT) in the Port of Colombo, has successfully gone live with Navis’ N4 terminal system and N4 Billing.

Volumes at Jaya Container Terminal, owned and operated by Sri Lanka Ports Authority grew steadily in Q4 2017