Karachi: Sri Lanka recently marked the opening of its expanded Colombo port, a $400 million (Dh1.4 billion) project that aims to transform the Indian Ocean island into a regional trading hub by allowing a new, bigger generation of cargo vessels to dock.
The project will enable the port to double its current capacity by accepting mega-cargo ships that hold as many as 18,000 shipping containers to enter the port, helping to reduce freight rates and making Sri Lanka a more attractive port of call.
The port’s capacity will eventually be increased from the current 5 million containers to 12.5 million containers per year, according to shipping circles
