Cabinet nod for Colombo North Port Development

Published : 9:16 am  April 11, 2018 | No comments so far |  |  (68) reads | 

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  • The paper sought to utilise the Technical Assistants (TA) Loan provided for the Port Sector by the Asian Development Bank (ADB) for the study 
  • Assistance Loan granted to Sri Lanka is USD 1.5 million

 

By Sandun A. Jayasekara  

Cabinet approval was granted to perform a feasibility study for the Colombo North Port Development project proposed by the Ministry of Ports and Shipping.   


The paper sought to utilise the Technical Assistants (TA) Loan provided for the Port Sector by the Asian Development Bank (ADB) for the study.   


The approval will allow the Ministry to kick start the Expression of Interest (EOI) and Request for Proposals (RFP) to appoint a consultant for the project, under ADB guidelines, and appoint relevant committees for the process.   
The study was proposed by the Sri Lanka Ports Authority (SLPA) in line with the National Port Master Plan.   


The study will determine and finalise the alignment, locations and layouts of the development of the port towards the North. It will also assess the adverse impact of the project to the existing Port of Colombo and its surrounding areas.   


Identifying the most suitable locations, time and connectivity for facilitating the energy terminals and logistics facilities proposed for the port, conducting environmental and social studies, assessment of development risks, determining relevant financial models for each schemes of the project are the expectations of the feasibility study.   


The Cabinet Paper concluded that when state authorities requested the ADB for assistance to perform the feasibility study for the project, the Bank had proposed that funds already allocated for the TA Loan for the Port sector, be utilised.   


The Technical Assistance Loan granted to Sri Lanka is USD 1.5 million.