The Sri Lankan government will invite Expressions of Interest (EOI) from the world’s top ten shipping companies next month to finance the expansion of the Colombo Port. The project includes the development of the Colombo North Port and Phase II of the West Container Terminal (WCT), according to Deputy Minister of Ports and Aviation Janitha Kodithuwakku.
The Colombo Port currently operates six terminals, five of which are dedicated to container handling. The expansion aims to establish the port as a major maritime hub, with new terminals extending closer to the Kelani River.
“Once a port is developed, we need business. Therefore, we will call for EOI from the top ten shipping companies in the world to finance the development. It will be done next month,” Kodithuwakku stated.
A feasibility study for the expansion has already been completed. Phase I of the WCT, jointly developed by India’s Adani Ports and Special Economic Zones Ltd. and Sri Lanka’s John Keells Holdings PLC, is currently under development. The first cargo ship is expected to arrive at the Adani-JKH WCT in the first quarter of 2025.
In 2023, the U.S. International Development Finance Corp (DFC) announced $553 million in financing for the port terminal project, though Adani Ports later withdrew from the financial assistance.
Sri Lanka is a key global transit hub, with half of all container ships passing through its waters. Regarding the Hambantota Port, Kodithuwakku mentioned that dredging is underway to deepen the breakwater by an additional meter.
Adani Ports and Special Economic Zones is an Indian multinational port operator and logistics company, part of the Adani Group, focusing on port infrastructure and economic zones.
John Keells Holdings PLC is a Sri Lanka’s largest conglomerate, with diversified interests in transportation, consumer goods, and real estate.