Govt. asking port firms to invest in Colombo project

The Indian Government is keen to promote participation of companies like Adani Group, Tata, GVK and Larsen & Toubro, and public-sector ones, in the development of Colombo Port Expansion Project (CPEP) in Sri Lanka. Besides take up projects as part of a consortium with Sri Lankan entities.

Indian Govt. keen to invest in Sri lankan colombo port projects

India has been approached by both Sri Lanka and Bangladesh to build ports on their coastlines. Besides, John Keells Holdings, one of the largest private-sector companies in Sri Lanka, has sought the help of the Indian High Commission in Sri Lanka to identify a suitable strategic investor from India to partner in bidding for the East Terminal.

Union Government-controlled Kandla Port Trust (KoPT) and Jawaharlal Nehru Port are also looking at developing the strategically important Chabahar port in Iran, which will give India sea-land access route to Afghanistan, bypassing Pakistan.

India is likely to invest USD 85.21 million in converting the berths into a container terminal and a multi-purpose cargo terminal.

The High Commission of India in Colombo, in a recent letter to the Ministry of Shipping, sought the participation of Indian companies in the expression of interest (EOI) for the East Terminal.

The letter says, given the importance of Colombo Port to India as a trans-shipment hub, it would be beneficial if an Indian company was involved in the development and operation of the East Terminal.

Source: http://transreporter.com/