President Mahinda Rajapaksa declared open the 1st phase of the Colombo South Port which is the first phase of the 500-million-dollar Colombo Port Expansion Project.
President Mahinda Rajapaksa said that his government has decided to introduce an economic system that is centered on Naval Ports, in order to make Sri Lankan an important destination in the world.
Speaking further President Mahinda Rajapakse had this to say....
The massive new South Port of Colombo, located mid-way on the lucrative east-west sea route has world class facilities and with its 18-metre draft, can handle even the biggest Triple-E Class vessels carrying 18 thousand containers that are already in service.
The China Merchant Holdings International, which is a Chinese government owned company built the Colombo South Port on a BOT basis and with 85% of the investment by CICT and the remaining 15% by the Sri Lanka Ports Authority.