Tipper Truck Oil Tanks

Sri Lankas latest development project nearing completion, the Hambantota Port will fill its basin starting today, August 15. President Mahinda Rajapaksa will lead the ceremonial filling in of water. Many thousands of visitors are expected at the site in Southern Sri Lanka, today to witness a once in a lifetime opportunity.

Phase One of the project has cost the government US$ 361 million and the work has been carried out by a Chinese contractor to schedule. The entire port project has been allocated 1,700 hectares of land for development usage and Phase Two and Three will have even more. Phase One will be ready in November, when the first ship is due to call. The whole project is valued at around US$ 1.5 billion, making the project the cornerstone of President Mahinda Rajapaksas stated aim of revitalising the economy, following the return of peace to the island. The government finally ended a 30-year separatist war in May 2009 and has now turned its attention to the economy. President Rajapaksa has repeated his aim of developing Sri Lanka as a trading hub  something that Sri Lanka was in its ancient history.

Last week, Chairman, Sri Lanka Ports Authority, Priyath Wickrama announced that the Sri Lankan government is inviting foreign investment into its US$ 1.5 billion flagship project. Dr. Wickrama though ruled out any foreign investment in the bunkering facility, saying that everything else is open to overseas investors and that the Government of Sri Lanka will retain the rights to bunkering with the Ports Authority.

Much else of what Dr. Wickrama says is open to foreign investment will need to be built. These include bulk cargo handling, oil storage tanks, warehousing complex, cold storage facility and container-transhipment, including quayside gantry cranes and a road network to serve the port. A number of companies have expressed interest in participating in the development even though Phase One will see just three ships being able to berth and a lack of oil storage facilities.

Hambantota: Nice For Local Economy, Unlikely To Be A Commercial Success - Sunday Leader