The Asian Development Bank is ready to provide $300 million in loan to expand a major port in the Sri Lankan capital. βIn recent years, Colombo port has lost market share in trans-shipment because it does not have the operating capacity of depth required to berth the latest generation container ships,β ADB senior transport specialist Prodyut Dutt said. The project, which will also involve the private sector, aims to increase container-handling capacity from 3.3 million 20-foot containers last year to 5.7 million by 2010, and to 10.5 million eventually. (Sources: ADB to lend Sri Lanka $300 mln to expand Colombo port/Reuters; ADB to Fund Expansion of Sri Lanka Port/The Associated Press; Sri Lanka gets 300 million dollar loan to upgrade port/Agence France-Presse)
