The Sri Lanka Ports Authority has launched Vision 2020, a corporate plan with the theme “Logistics Excellence in the Silk Road.”
The first copy of the corporate plan was handed over to Namal Rajapaksa, Parliament member for the Hambantota district, by Priyath B. Wickrama, the chairman of SLPA, at the launch ceremony at the Hilton Hotel in Colombo, Sri Lanka. Rohitha Abegunawardane, Sri Lanka’s minister of port and highways; Udith Sanjaya Lokubandara, Parliament member for the Badulla district; Ranjith Pemasiri, secretary of the Ministry of Port and Highways; Ajith Nivad Cabral, govern of the Central Bank; Nihal Keppetipola, managing director of SLPA; senior management and staff members of SLPA; a number of foreign guests; and members of the shipping community were also in attendance.
As part of Vision 2020, SLPA said it is shifting its original thought of becoming a container hub to becoming a global logistics hub, predicting that an upcoming boom in international trade will open up a range of opportunities. As a result, the plan includes the construction a “multi-dimensional” logistics system to integrate supply chain functions, while simultaneously opening up a deep water seaport.
The infrastructure developments will aim to enhance Sri Lankan ports in order to serve the increasing demand of various ships using the east-west shipping route. By 2020, SLPA expects to handle 20 million tons of cargo per year, with annual revenue of $1 billion.
Vision 2020 includes $10 billion of investments in ports. The infrastructure development will include “mega” projects focusing on electricity generation, ports, airports, water supply, irrigation, roads, transport, revitalization of agriculture, domestic enterprises, enhancement of public service and promotion of private sector and small and medium enterprises.