China-Sri Lanka signs US$500 mn agreement for Col South terminal

Discussion in 'Subcontinent & Central Asia' started by Galaxy, Sep 23, 2011.

  1. Galaxy

    Galaxy Elite Member Elite Member

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    BOI signs US$500 mn agreement for Col South terminal



    FRIDAY, 23 SEPTEMBER 2011


    The Board of Investment of Sri Lanka (BoI) yesterday signed a US$ 500 million agreement with Colombo International Container Terminals Limited to develop and operate the Colombo South Container Terminal.


    Eshana de Silva, Acting Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI Certificate of Registration to the investors. Anura Jayasinghe, BOI - Board Member and Priyath Bandu Wickrama, Chairman - Sri Lanka Ports Authority were also present at the occasion.


    Nelson Liu, Deputy Managing Director of China Merchants Holdings (International) Company Limited and J. M. S. Brito, Deputy Chairman / CEO of Aitken Spence PLC signed the agreement on behalf of Colombo International Container Terminals Limited.


    The agreement for one of the largest Foreign Direct Investments will strengthen Colombo’s status as the premier shipping hub of South Asia into the 21st century and construction of the container terminal will commence in December this year, a statement from the BoI said. The project is funded by the Hong Kong-based China Merchants Holding (International) Company Limited, Aitken Spence PLC and Sri Lanka Port Authority with equity partnership of 55%, 30% and 15% respectively. The project is expected to provide direct employment opportunities for over 1000 and will be implemented over two phases.


    Colombo’s existing terminals currently account for the island’s entire cargo volume. The government forecasts rising cargo levels will enable transportation, including ports, to make up 40 percent of gross domestic product by 2020. Deeper berths, new terminals and increased efficiency will enable larger ships to dock and transfer cargo more quickly, enabling Colombo to maintain its status as a premier shipping hub. With the implementation of this container terminal development project, Sri Lanka is expected to gain economic benefits such as increased container handling capacity of the port, accommodation for the latest generation of large container ships, guarantee fast turnaround of vessels and training of Sri Lankan staff on latest technology.


    The BOI has granted Strategic Development status to the project, working in close collaboration with the Sri Lanka Ports Authority.


    BOI signs US$500 mn agreement for Col South terminal | Local
     
    Last edited: Sep 23, 2011
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  3. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    Win-Win for Sri Lanka, China forks over all the money, gets infrastructure development and jobs for nothing.
     
  4. indian_sukhoi

    indian_sukhoi Regular Member

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    Colombo Port Project

    [​IMG]

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  5. raja696

    raja696 Regular Member

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    Its time for India to break the Sethusamudram "Sea of the Bridge" between India and Srilanka and then build a port. This will reduce the fuel consumption of ships to travel and hence more ships are diverted to pass through India instead of srilanka. So china and srilankans are fu_ked up
    with there investments. It will create more jobs on Indian side(that would be fantastic). Its time we new generation have to take initiation to encourage
    such plans which are previously planned. This plan is suppressed by BJP and remaining fanatics by make it a sentimental religious issue. This plan will help India economically, strategically and Tit for tat for china srilanka collaboration to contain India.
     
  6. Phenom

    Phenom Regular Member

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    ^^ Sethusamudram had the potential to transform southern TN economically, and also help the country strategically, but unfortunately it got mixed up in politics and the project is pretty much shelved.
     
    LurkerBaba likes this.
  7. Param

    Param Senior Member Senior Member

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    Not shelved. Some kind of environmental impact study is going on. The previous alignment that went through sethu samudram has been abandoned and a new alignment through Rameswaram island is under study.
     
  8. SpArK

    SpArK SORCERER Senior Member

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    The money is going to get wasted.

    Let the port of Vizhinjam gets operational, all the traffic of these transshipment will be transferred to the natural port.

    Some good news:

    [h=1]Bollard pull facility at Vizhinjam to be dedicated to nation today[/h][​IMG]

    THIRUVANANTHAPURAM, SEPT. 22:
    The Kerala Minister for Ports and Excise, Mr K. Babu, will on Friday dedicate to nation the 500-tonne ‘bollard pull test' facility installed by Cochin Shipyard Ltd (CSL) at Vizhinjam near here.
    The Minister will also lay the foundation stone for the water supply and sanitation facility at the site. Mr K. Mohandas, Secretary, Ministry of Shipping, will also take part in the dedication event, a spokesman for CSL said.
    [h=3]STATIC PULL[/h]Bollard pull test is conducted to determine the static pull that a tug/ship is capable of exerting under practical operating conditions with its own propulsion system.
    This is a physical test typically performed by tying a hawser (thick rope) from a ship to a fixed bollard at shore and measuring the pull of the ship in tonnes under maximum operating conditions by means of a load cell (dynamometer) arranged between the hawser and bollard.
    All newly constructed tugs and special offshore ships such as anchor-handling tug supply vessels need to carry out this test prior to delivery in presence of ship owners and classification society for practically proving the pulling power.
    [h=3]HIGHEST CAPACITY[/h]Further, existing ships undergoing extensive repairs also have to undergo this test, the spokesman said.
    The bollard pull test facility has been installed in association with the State Port Department and shall be used for testing ships up to 500-tonne pulling capacity. This is the highest capacity pull test facility in the country and amongst the highest in the world, the spokesman said. The maximum currently available in the country is 200 tonnes.
    This facility can cater to the requirements of the Port Department, Indian Navy, Indian Coast Guard and also ships calling at India ports in addition to those built at CSL.
    [h=3]VIZHINJAM ADVANTAGE[/h]Vizhinjam was selected for basing the facility due to its inherent advantage of higher water depth close to shore. Pre-engineering surveys such as bathymetry, soil test analysis and petrographic studies were carried out by CSL in partnership with the Kerala Ports Department. The bathymetry survey conducted around the location by the Chennai-based Indomer Coastal Hydraulics revealed water depth up to 20 metres at a distance of up to 750 metres from the shore, which is ideal for conduct of bollard pull test.
    The soil test and petrographic studies of the rock at the location was carried out by the LBS Centre for Science and Technology, Thiruvananthapuram, which confirmed the suitability of installing the 500-tonne bollard at the site.
    [h=3]FUTURE NEEDS[/h]Based on the above, the design of the bollard was carried out by the CSL, duly vetted and approved by the Indian Institute of Technology-Madras.
    The facility has been equipped to deal with the future requirement of construction of high bollard pull offshore vessels by CSL to meet the market demand for deep-sea drilling operations.
    Currently, four anchor handling tug supply vessels with a bollard pull of 120 tonnes are under construction at CSL for Shipping Corporation of India under the dual classification of the American Bureau of Shipping and the Indian Register of Shipping.
    The first of the series of vessels is undergoing acceptance trials at CSL and shall be tested at the Vizhinjam facility later this month, the spokesman said.

    Business Line : Industry & Economy / Logistics : Bollard pull facility at Vizhinjam to be dedicated to nation today
     
  9. Param

    Param Senior Member Senior Member

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    Which money, Colombo port or Sethusamudram?
     
  10. SpArK

    SpArK SORCERER Senior Member

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    Golombo my dear.............

    Infact the TVM route will be using sethusamudhram and will be skipping lanka altogether, if its ready.

    [​IMG]
     
  11. pankaj nema

    pankaj nema Senior Member Senior Member

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    India must hasten its own projects whether Sethusamudram or any other trans shipment port project
    to give Sri Lanka ; a healthy competition

    On a different note I would like to say that Sri Lanka's economy has limited potential .

    So all that investment by China is just to keep India guessing about Sri lanka and China's motives

    India has done more than enough to keep Sri Lanka Happy

    If India's security is even a little bit threatened by these so called " investments" then India will have take out the Big stick
     
  12. KS

    KS Bye bye DFI Veteran Member

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    irrelevant
    This is just the start...
     
  13. Godless-Kafir

    Godless-Kafir DFI Buddha Senior Member

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    Something has to be done to this Sri-Lanka China thinge.
     
  14. Dovah

    Dovah Untermensch Senior Member

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    When all our attempts to court the Lankans fail and the Chinese officially establish a military presence in Sri Lanka in the next couple of years, I'm just gonna say "I told you so".
     
  15. KS

    KS Bye bye DFI Veteran Member

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    I said it before and will say it again.

    Lankans do NOT see India as a friend nor ally.

    The 25 years of arse kicking at the hands of Tamils is too much for them to forget.

    Its high time India recalibrates its lanka policy, else its gonna become another Nepal.

    We will say, "We told you so".
     
    Last edited: Sep 24, 2011
  16. The Messiah

    The Messiah Bow Before Me! Elite Member

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    Not your rhetoric again on lanka. We all know your "dislike" for them.

    First get your religious right wingers to stop blocking sethusamudram project.
     
    raja696 and StarShip Enterprise like this.
  17. KS

    KS Bye bye DFI Veteran Member

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    If u knew anything about the project you would know its not the right wingers who are blocking the project but left wing environmentalists who are doing it.
     
    Last edited: Sep 24, 2011
  18. The Messiah

    The Messiah Bow Before Me! Elite Member

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    no one gives a shit about environmentalists but they do about religious people. and i dont know how environmentalists = left wing ? :laugh:

    so you are saying there is no opposition from religious organizations ?
     
  19. KS

    KS Bye bye DFI Veteran Member

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    Obviously the courts do give a shit about the environmentalists.
     
  20. pankaj nema

    pankaj nema Senior Member Senior Member

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    When India decides to bring out the Big Stick then Sri Lanka will have nowhere to hide

    And the Chinese will simply scoot away

    When India decides to strike back at Sri Lanka , then there will be absolutely no guilt ; remorse or doubt
    and Sri Lanka would itself be responsible for its destruction
     
  21. amoy

    amoy Senior Member Senior Member

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    Top 50 World Container Ports | World Shipping Council

    Colombo ranks 29th with throughput of 4.08mln teus containers in 2010.

    Let's see where the top Indian port is. Ah, Nhava Sheva, 26th, 4.28mln teus. Then no more for India in the top 50... Phewwwwwwwwwww

    That's so called first mover advantage. Global liners would prefer Colombo as a shipping hub in transit to Mid East, Africas, and beyond to Indian ports with the former's buildup thanks to the investment pumped in and infra an edge over Ind... meaning big revenue and jobs for a small state called Sri Lanka
     

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