Sri Lanka to invest $132m in port development projects
23 February 2023Sri Lanka’s government will invest $132m in port development projects, according to various sources.
Sri Lanka’s government will invest $132m in port development projects, according to various sources.
The country’s minister of ports, shipping and aviation, Nimal Siripala de Silva, said the government plans to use the revenue generated from port operations to fund the investments.
The projects are expected to drive economic growth in the region.
During an event in Colombo, the minister stated that the Eastern Container Terminal would receive more than $100m, while the Jaya Container Terminal would receive $32m.
Both terminals are fully owned by the Sri Lanka Ports Authority.
The minister added that the government plans to develop the Trincomalee harbour for bulk cargo operations and the Galle harbour for tourism.
The investments are said to be part of Sri Lanka’s broader aim to become a logistics and transport hub in the Indian Ocean.
