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Japanese firms invited to bid for Sri Lankan port project

Japanese firms invited to bid for Sri Lankan port project

Colombo: The Sri Lanka Ports Authority has called for bids to build a new 14.5bn yen ($134.3m) port in southern Galle, next to the existing harbour. Bidding for the project, funded by an Official Development Assistance loan from the Japan Bank for International Cooperation, is only open to Japanese firms and will be opened on July 3.

The project aims to expand the current port's capacity to meet future demand with a new breakwater, harbour basin with a deeper draft and multi-purpose terminal to handle bigger vessels. SLPA officials said the aim is to develop Galle to handle conventional cargo that is currently handled in Colombo port as well as cargo for the local industries in the southern region. The main commodity handled by the existing Galle harbour is cement.

The JBIC loan is repayable in 30 years, inclusive of a grace period of 10 years and carries an interest rate of 0.3% a year.  [25/06/08]