Colombo: Sri Lanka's President Mahinda Rajapakse has announced the start of a US $1.2bn expansion programme at the port of Colombo. The entire project envisages the addition of four new terminals, each with around 1,200 metre quay length allowing four ships to berth, which will triple port capacity to 12m teu per year when complete. The first phase, funded by the government at an estimated cost of US $300m, includes dredging the harbour basin to 18 metres, building a new breakwater and construction of the first container terminal, scheduled for completion by 2010. The Sri Lankan Ports Authority (SLPA) hopes to attract private funding for the second phase. [18/12/06]
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