The Government this week approved loans to develop both the Kankesanthurai (KKS) Harbour and the northern section of the Colombo Port. $45.17m credit line from India for KKS Harbour restoration Technical Assistance loan from ADB for development of the northern section of Colombo Port.
For the reconstruction of the KKS harbour, a credit line agreement between the Export-Import Bank of India and the Sri Lankan Government was signed. Accordingly, a $ 45.17 million credit line from India will be used to finance the restoration of the KKS Harbour, which is to be transformed into a self-sustainable, commercial harbour. This project is line with the Government’s North-East Economic Corridor concept to develop trade in the northern and eastern ports/harbours.
The restoration of the KKS Harbour is to be carried out by the Sri Lanka Ports Authority (SLPA) and will see the installation of a new jetty along with the rehabilitation of the existing one. Meanwhile, the finances to upgrade the northern part of the Colombo Port will be in the form of a Technical Assistance (TA) loan from the Asian Development Bank (ADB).
A $ 1.5 million has been provided by the ADB to prepare the National Port Master in addition to the TA loan of $ 4.42 million for detailed design and for any other projects identified by the Master Plan. Additional terminals will be added to the Colombo Port to handle a larger volume of containers as well as for logistic facilities and energy production. Minister of Ports and Shipping Mahinda Samarasinghe submitted the Cabinet papers for the two projects.
Press Release: slpa.lk