Dignitaries at the signing of the milestone agreement with Ports, Shipping and Aviation Minister Nimal Siripala De Silva and China Merchants Group Chairman Miao Jianmin (sixth from left) and (from left) Access Engineering PLC Director Business Development Dharshana Munasinghe, SLPA Managing Director Susantha Abeysiriwardena, SLPA Chairman Keith Bernard, Ports, Shipping and Aviation Ministry Secretary K.D.S. Ruwanchandra, China Merchants Group Executive Vice President Deng Renjie, Access Group Chairman Sumal Perera, China Merchants Group Executive Vice President Feng Boming, China Merchants Ports Holdings CEO Wang Xiufeng and Colombo International Container Terminals CEO Jack Huang
An artist’s impression of the proposed South Asia Commercial and Logistics Hub to be completed by end-2025 – the largest logistics hub in South Asia
- China Merchants Port Holdings leads consortium of investors in US $ 392mn South Asia Commercial and Logistics Hub
- SLPA and Access Engineering to each hold 15% equity in venture
- 8-storey, 5mn square foot complex with design storage capacity of 530,000 CBM to be built
Sri Lanka’s aspiration to become a major logistics hub in the region took a giant leap forward yesterday, with the launch of a project to build the largest commercial and logistics complex in South Asia in the Port of Colombo, with an investment of US $ 392 million.
Agreements for the construction and operation of the South Asia Commercial and Logistics Hub (SACL) as a 50-year Build-Operate-Transfer (BOT) project were formally signed in Colombo by the representatives of the three investing entities, with China Merchants Port Holdings (CMPort) holding a 70 percent stake and the Sri Lanka Ports Authority (SLPA) and Access Engineering PLC each holding a 15 percent stake in the venture.
A public-private partnership project, the SACL will be built in the centre of the Port of Colombo and will have 530,000 CBM of storage capacity via an eight-floor building. The investment in the project will bring in the much-needed foreign investment into Sri Lanka.
CMPort, the major shareholder in the SACL, is the parent company of Colombo International Container Terminals (CICT), which manages the South Terminal of the Port of Colombo. CMPort is the largest and a globally-competitive public port developer, investor and operator in China, with investments in Mainland China, Hong Kong and overseas. CMPort has a port network portfolio spanning 50 ports in 26 countries and regions. Guided by the vision ‘To be a world-class comprehensive port service provider’ and supported by its domestic, overseas and innovation strategies, CMPort strives to strengthen its core competencies in global throughput, port service and management.
https://www.dailymirror.lk/breaking...gistics-complex-in-Port-of-Colombo/108-257990
