Colombo, Oct. 19 (Daily Mirror) - The Sri Lanka Ports Authority (SLPA) plans to develop a new integrated logistics hub at the Port of Colombo through a Public–Private Partnership (PPP), following the decision to discontinue an earlier joint venture project.
The new development will be pursued through a competitive bidding process, subject to the relevant approvals, the SLPA said in a statement issued on October 19.
The proposed facility will occupy a substantial land area within the port and support a wide range of port-related and value-added logistics activities.
The initiative aims to transform the Port of Colombo from a predominantly container transshipment hub into a more comprehensive maritime and logistics centre, providing enhanced services to shipping lines, cargo owners, logistics operators and other participants in international supply chains.
According to the SLPA, the PPP model is expected to create opportunities for private-sector participation, attract investment, improve the utilisation of valuable port land and infrastructure, and generate sustainable long-term revenue for the authority.
The development is also expected to contribute to improving operational efficiency and strengthening the competitiveness of the Port of Colombo in regional and international trade.
The new plan follows the decision by the shareholders of South Asia Commercial and Logistics Hub (SACLH) not to proceed with their previously proposed US$280 million joint venture.
The SLPA said the decision provided an opportunity to pursue an alternative development model that better aligned with its strategic priorities, commercial objectives and the long-term interests of the port.
The authority reiterated its commitment to positioning the Port of Colombo as a leading maritime, transshipment and logistics hub in South Asia, while ensuring that future projects are commercially viable and financially sustainable.