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Sri Lanka Calls On Singapore To Invest In Port Development

By: Staff Writer

Colombo (LNW): In an effort to further catalyse Sri Lanka’s economic activity by improving trade and supply chains, the Ministry of Ports, Navigation, and Aviation recently invited Singapore’s PSA International to participate in the development of the Colombo North Port.

Minister of Ports, Navigation, and Aviation Nimal Siripala de Silva extended the invitation while on an observation tour this weekend (June 3) to investigate the operations and development of Singapore’s main port.

De Silva held special discussions with the head of PSA International, a leading port operator and supply chain company with flagship operations in Singapore and Antwerp. Temasek Holdings is the parent organisation of PSA International.

According to a statement released by the Ministry of Ports, PSA International Regional CEO Middle East and South Asia Won Chee Fung during the discussion expressed willingness to explore investment opportunities for development and operations at the ports of Sri Lanka.

If opportunities are available, PSA would be keen on applying for the same, the statement said.

As plans are underway to kickoff the development of the Colombo North Port, Minister de Silva said suitable investment plan and proposal should be provided. He went on to request the PSA to put forward a suitable proposal for the development of Trincomalee Port.

Officials including Assistant Vice President of PSA International Lim Wei Chang, Chairman of JCT Oil Bank Company Lakmal Ratnayake and representatives of the Sri Lankan Embassy in Singapore also participated in this discussion.

PSA’s ports and cargo solutions portfolio comprises over 60 deepsea, rail and inland terminals, across 160 locations in 42 countries – including two flagship port operations in Singapore and Belgium, as well as affiliated businesses in supply chain management, logistics, marine, and digital services.

Drawing on the deep expertise and experience from a diverse global team, PSA collaborates with its customers and partners to develop world-class port ecosystems, deliver innovative cargo solutions and co-create an Internet of Logistics to accelerate the shift towards sustainable trade.

A statement from the Ministry quoted Wan as saying that if there are investment opportunities for development and operations in the ports of Sri Lanka, they would like to apply for them.

Presenting the facts, the Minister said that since the current Government has planned to start the development of the North Colombo Port, a suitable investment plan and proposal should be provided for it.

Minister requested the heads of PSA International Private Company to provide a suitable proposal for the development of Trincomalee Port.

According to the facts revealed in this discussion, the PSA company is one of the largest companies operating in ports in the world, and 37,000 million TEUs are handled per year in Singapore’s main port alone.

Officials including PSA Assistant Vice President Lim Wei Chang, JCT Oil Bank Chairman Lakmal Ratnayake and representatives of the Sri Lankan Embassy in Singapore also participated in this discussion.

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