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.
Construction of the complex is expected to begin in the second half of 2023, with a target of completion by end-2025. Adjacent to the Port City and CBD, it will be directly linked with the airport via the Port Access Elevated Highway. The five million square foot complex will offer the full gamut of logistics-related facilities and services such as less than container load (LCL), multi-country consolidation (MCC), container freight station (CFS), general warehousing and various other value-added services.
A spokesperson for CMPort said the project would result in an infusion of US $ 126 million, in addition to an upfront payment of US $ 26 million, after the agreement is signed. The project is also expected to provide direct employment to a minimum of 1,800 people and create 10,500 other indirect job opportunities.
The project aligns with Sri Lanka’s national development strategy to transform the country into a major logistics centre, identified as a key sector and a driving force for economic development in the National Policy Framework 2019.
It will provide better logistics and warehousing facilities and services, enhancing the port’s competitive advantage and consequently strengthening its hub status. The project will also improve the operational efficiency of the Port of Colombo and introduce leading-edge technology and innovation.
The Port of Colombo is currently ranked among the top 13 ports in the world, in terms of shipping network connectivity. Despite its ideal location on the international trading route, the port still lacks a modern, state-of-the-art logistics facility, the spokesperson said. At present, mainly loading and discharging of cargo is done at the Port of Colombo, with little value-added services being offered. The SACL will change this landscape.
Additionally, since the Port of Colombo was declared as a Freeport by the Government of Sri Lanka, the project will enjoy the associated Freeport advantages in its operations, such as no customs clearance for transshipment and MCC cargo, resulting in reduced paperwork and associated costs. The project also provides an ideal platform for the registration of hub companies – which will enjoy tax concessions in CIT, WHT, VAT, etc.
The project is expected to help the Port of Colombo to strengthen its competitiveness against other competing ports in the region. Furthermore, the improved services and cost benefits provided by the project are expected to attract more business and container volumes to the Port of Colombo, benefitting all its terminals and generating higher revenues for the port and port-related companies in 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.
A commemoration event and a special Mass are organized at St. Anthony’s Church in Kochchikade in commemoration of the fourth anniversary of the deadly terror attacks on Easter Sunday (April 21) in 2019. Accordingly, a two-minute silence was also observed at 8.45 a.m. in memory of those who lost their lives in the ghastly bombings. The event, led by Cardinal Ranjith and Apostolic Nuncio Archbishop Biran Udaigwe, was also attended by the ambassadors and high commissioners of several countries including China, the United States and the United Kingdom. In the meantime, the Catholic Church in Sri Lanka is forming a human chain, themed “We are Watching until Justice is Meted Out”, for its quest to seek the long overdue truth behind the brutal carnage on April 21, 2019 and justice for the victims. The human chain is formed from St. Anthony’s Church in Kochchikade to St. Sebastian’s Church in Katuwapitiya on the Colombo-Negombo main road. Sri Lanka was left devastated on April 21, 2019 after a group of suicide attackers of the now-outlawed local Islamic extremist organization National Thowheed Jamaat (NTJ) carried out a series of coordinated bomb blasts at St. Anthony’s Church in Kochchikade, St. Sebastian’s Church in Katuwapitiya, Zion Church in Batticaloa, Cinnamon Grand, Kingsbury and Shangri-La hotels in Colombo and a guest house in Dehiwala, leaving more than 260 people including foreigners dead and at least 500 people injured.
US based international travel influencer Juliana Broste, a 12x Heartland Emmy Award-winning travel filmmaker and host, showcasing adventures and fun things to do around the world, recommended Sri Lanka to be listed as one of the best places to visit in 2023, and as a result of her continuous effort, Sri Lanka has been listed in the Forbes list as one of the 23 best places to visit in 2023. This was a result of her visit to Sri Lanka in 2022, under the Visiting Blogger Program of SLTPB 2022. Julianna, who explored the destination on a photo tour, says that even with inflation, visitors will find Sri Lanka a spectacular, affordable destination worth the long haul.
‘’ Loop around the island and you’ll see why this land will keep you guessing—from the hustle and bustle of capital city Colombo to beautiful beaches, rice fields, waterfalls, plains, and mountains.” she says. ‘’There’s a lot to see in a relatively short distance, so have your camera at the ready. “Spotting the wildlife in Sri Lanka is really special’’. she further adds.
“You can go on safari to an Elephant Sanctuary, go whale watching on the Indian ocean and spy on birds, lizards, jellyfish and monkeys in a mangrove.” Broste has selected spotting Leopards at the Yala National park on her bucket list for next time. Sri Lanka is an ideal destination to explore the cultural attractions, including the ancient cities of Anuradhapura and Kandy.
“Be sure to pack an all-white outfit that covers your shoulders and legs when visiting religious sites,” says Broste. “Catching a traditional Kandyan dance performance is a highlight, seeing men and women in traditional dress telling stories through dance.”
Broste also mentions Nuwaraeliya, known as ‘’little England ‘’ as another must see location to visit. Tucked away in the misty mountains, where the region’s most iconic export item, Ceylon Tea is produced.
“Winding roads reveal rows and rows of tea bushes on the hillside—be sure to stop in for a cup of tea on your visit to a tea factory and plantation,” says Broste. “Equally as fun: sampling a king coconut on the side of the road along your adventure.”
Finally, Broste has pointed out another two iconic monuments which are renowned for their breathtaking view and architecture. These include the Lotus Tower, Colombo, and Sigiriya . “It’s a symbol of the city and just a touch taller than the Eiffel Tower,” says Broste. “Another famous viewpoint worth the hike is the ancient city of Sigiriya known as Lion’s Rock, with the ruins of an ancient stronghold located atop a dramatic rock outcrop. It’s wild to think how an entire civilization lived here centuries ago.”
Mesmerized with the galore of Holiday opportunities Sri Lanka has to offer, Broste has endorsed Sri Lanka as one of the best places to visit in 2023, adding another feather to its cap. Sri Lanka has seen a rapid growth in the number of tourist arrivals up to April, and has been enjoying the positive results of its continuous effort to boost tourist arrivals for the past 3 years.
As of late, Sri Lanka received several endorsements for its capacity as a renowned tourist destination which offers everything which a modern traveler would want . In February Forbes magazine recognized Sri Lanka as a ‘Top Wildlife Safaris Outside of Africa’. In addition, the country was ranked ninth in a list of the 50 most Instagrammable places in the world in 2023, based on Big 7 Travel social media data, whilst the destination was also ranked among the top 24 countries to travel in 2023 by TravelTriangle, a leading online holiday marketplace.
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