Chinese firms bid for $500 mn project in Sri Lanka

November 23rd, 2011 - 1:43 pm ICT by IANS  

Colombo, Nov 23 (IANS) Two Chinese firms and a British company are bidding for a contract to build the $500 million Colombo South Harbor Container Terminal in Sri Lanka, an official said here Wednesday.

British group Boskalis International, along with China Harbor Engineering Corp and China State Engineering Corp are the three companies engaged in the bidding, reported Xinhua.

The official said the winning bidder will be selected in December and construction will begin in January.

“This is the largest foreign direct investment that Sri Lanka has received since the end of its three decade conflict in 2009. The joint-venture shell company that will develop and operate the terminal will be formed this month. It is expected to be titled Colombo International Container Terminals,” he said.

The new terminal will add 2.5 million TEU (Twenty-foot Equivalent Unit) to the Colombo Port’s capacity and will be able to accommodate the new-generation vessels carrying up to 18,000 TEU making it one of the largest ports in South Asia.

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