Sri Lanka to call for EoI for Colombo port expansion.

The Sri Lankan government is set to invite Expressions of Interest (EOI) next month from the world’s top ten shipping companies for the Colombo Port expansion, which includes the Colombo North Port project and Phase II of the West Container Terminal (WCT). Deputy Minister of Ports and Aviation, Janitha Kodithuwakku, highlighted that Colombo Port currently operates with six terminals, five of which are dedicated to container handling. Plans are underway to further expand the port, adding new terminals and transforming it into a prominent marine hub. Once the North Port is developed, the expansion will extend close to the Kelani River.

The feasibility study for the expansion has already been completed, and Phase I of the WCT is in progress. The first cargo ship is expected to arrive at the Adani-John Keells Holdings (JKH) WCT in the first quarter of 2025. This terminal is a joint venture between India’s Adani Ports and Special Economic Zones Ltd. and Sri Lanka’s largest private conglomerate, John Keells Holdings PLC.

In 2023, the U.S. International Development Finance Corp (DFC) announced that it would provide $553 million in financing for the terminal project. However, Adani Ports later withdrew from this financial assistance. Despite this setback, Sri Lanka remains one of the world’s key transit hubs, with half of all container ships passing through its waters.

Source: Maritime Gateway