The Sri Lanka Ports Authority (SLPA) is seeking an investor for Colombo's new container terminal who can increase cargo volumes and improve cash flow, a senior official said.
SLPA chairman Saliya Wickramasuriya said the technical bids for the infrastructure work and first box terminal in the new South Port are under evaluation and winners likely to be announced soon.
Four consortia are in the running for the dredging and breakwater construction work and five to build and operate the first container terminal in the new Colombo, all including foreign investors.
"Our primary aim in giving out the first container terminal is to derive the maximum input to the revenue stream in the shortest possible time," Wickramasuriya said in an interview.
"We want a partner who can ramp up business quickly, and who can guarantee a steady revenue stream in the future.
"What we need urgently is expertise, track record and the ability to run mega-terminals and shift large amounts of cargo."
Bids have been called for the first of a potential four terminals in the new port which is designed to handle the biggest ships afloat with a draft of 16 metres and as long as 400 metres.
Wickramasuriya said they would look to maximise cash flow from the first terminal's operations to help fund other projects and refund loans.
"From the first terminal what we really want is cash flow. It will help fund the pay back of loans by the SLPA not only for the new South Port but for the Galle port and for Hambantota ports. They are economic development projects that will give long term benefits but in the initial years of the loan repayment they impose a staggering burden on us."
With the other three container terminals of the planned $1.2 billion deep-water South Port, the SLPA might go in for diversification, for broadening the mix of lines, port operators and local partners.
Wickramasuriya said that by opening bidding through the request for proposals (RFP) to major global players, regardless of their geographical presence or regional operations, it was indicating its interest in discussing the development future of Colombo with any operator that comes in.
He was responding to a question on concerns expressed by sections of the maritime community in the island about the wisdom of allowing the Port of Singapore Authority, a competitor of Colombo port, to bid for the new terminal.
"The government has no policy of excluding those that might be considered competing ports."
Wickramasuriya also said that while the ports authority welcomes the participation of blue chip local companies in these ventures, it had not made it an absolute requirement in the RFP.
SLPA chairman Saliya Wickramasuriya said the technical bids for the infrastructure work and first box terminal in the new South Port are under evaluation and winners likely to be announced soon.
Four consortia are in the running for the dredging and breakwater construction work and five to build and operate the first container terminal in the new Colombo, all including foreign investors.
"Our primary aim in giving out the first container terminal is to derive the maximum input to the revenue stream in the shortest possible time," Wickramasuriya said in an interview.
"We want a partner who can ramp up business quickly, and who can guarantee a steady revenue stream in the future.
"What we need urgently is expertise, track record and the ability to run mega-terminals and shift large amounts of cargo."
Bids have been called for the first of a potential four terminals in the new port which is designed to handle the biggest ships afloat with a draft of 16 metres and as long as 400 metres.
Wickramasuriya said they would look to maximise cash flow from the first terminal's operations to help fund other projects and refund loans.
"From the first terminal what we really want is cash flow. It will help fund the pay back of loans by the SLPA not only for the new South Port but for the Galle port and for Hambantota ports. They are economic development projects that will give long term benefits but in the initial years of the loan repayment they impose a staggering burden on us."
With the other three container terminals of the planned $1.2 billion deep-water South Port, the SLPA might go in for diversification, for broadening the mix of lines, port operators and local partners.
Wickramasuriya said that by opening bidding through the request for proposals (RFP) to major global players, regardless of their geographical presence or regional operations, it was indicating its interest in discussing the development future of Colombo with any operator that comes in.
He was responding to a question on concerns expressed by sections of the maritime community in the island about the wisdom of allowing the Port of Singapore Authority, a competitor of Colombo port, to bid for the new terminal.
"The government has no policy of excluding those that might be considered competing ports."
Wickramasuriya also said that while the ports authority welcomes the participation of blue chip local companies in these ventures, it had not made it an absolute requirement in the RFP.