Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Bank of Ceylon finances Sri Lanka Port Authority project to develop East Container Terminal
Thu, Mar 20, 2014, 01:03 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 20, Colombo: The Bank of Ceylon (BoC), signed a financing agreement for Rs. 10.5 Billion with Sri Lanka Port authority (SLPA) for the development of the East Container Terminal (ECT) under Colombo Port Expansion project, a BoC press release said.

This project is facilitated by leading infrastructure development provider Hyundai Engineering and Construction Co. Ltd in Korea. Ltd. It is expected to be completed in 2015.

The BoC release said Sri Lanka is strategically located in the Indian Ocean at the Centre of East- West maritime routes.

SLPA has been proactively involved in maintaining its competitive position amidst stiff competition from the regional ports. SLPA emphasizes the importance of development of the ECT as a measure for bridging the capacity shortfall and also to sustain its strategic role in the Port of Colombo.

With the construction of the ECT, SLPA expects to have a deep draft berth to cater new generation deep draft vessels, increase container handling capacity, reduce the ship waiting time in the Port, increase the efficiency with latest equipment and to have a green port facility.

"Bank of Ceylon being the catalyst of the development of the country has made long - term funding of various infrastructure projects such as Ports, Road Development and Water Projects in line with Mahinda Chintana vision of rebuilding the future," the release said.

According to the Bank of Ceylon, it is the highest contributor to the development of Ports of Colombo as the local partner.

** Related Story :: Sri Lanka Ports Authority to expand East Container Terminal

ColomboPage - Recent 10 Stories
Proposal to increase cigarette prices in cabinet within two weeks
-- [4 hours ago]
Sri Lanka to eliminate rabies by 2020
-- [5 hours ago]
Pakistan provincial government of Punjab to increase cooperation with Sri Lanka on education
-- [5 hours ago]
Sri Lankan government will not yield to extremism in the North - State Defense Minister
-- [6 hours ago]
Indian minister with a high-level delegation to arrive in Sri Lanka tomorrow
-- [6 hours ago]
Sri Lanka Finance Minister seeks ideas from people to prepare next year's budget meeting their expectations
-- [7 hours ago]
BOI Chief to address the biz community Sri Lanka - Italy Business Council event
Sri Lanka police arrest former minister Mahindananda Aluthgamage's son for drunk driving
Sri Lanka Fisheries Ministry rescue fish from drought stricken reservoirs
Ven Omalpe Sobitha Thera steps down as chairman of JHU to pave way for new leadership

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.