Sri Lanka has shown keen interest in investing in Indian port projects, though on the part of the Indian Industry, initial skepticism seems to be the response. Sri Lanka Ports Authority (SLPA) Chairman, Mr.Priyath is said to have stated: “ We are in talks with a few Indian companies to partner us for investing in projects in India. We are interested in many of the port projects that the Indian government is planning such as the fourth container terminal at Jawaharlal Nehru Port Trust”. A cryptic comment on the Sri Lanka’s interest by a senior official of the Ministry of Shipping is: “It is premature at the moment”. It is a well-known fact that the transshipment hub in Cochin and Vizhinjam port are in direct competition to the Colombo port. A senior director at Deloitte Touche Tohmatsu, Mr.Hemant Bhattbhatt, has observed: “In such a scenario, there is no valid reason for Sri Lanka to invest in Indian port projects as it would only hamper their projects. There could be ulterior motive behind their intention”. He strikes a note of caution: “Much like the PSA-ABG deal at JNPT which cost the port time in developing the project and now forcing to go for a re-bid, the intention of the Sri Lanka ports need to be ascertained clearly if they were to bid for projects in India”.
Friday, 12 October 2012
Sri Lanka wants to be a partner in Indian Port Projects
Sri Lanka has shown keen interest in investing in Indian port projects, though on the part of the Indian Industry, initial skepticism seems to be the response. Sri Lanka Ports Authority (SLPA) Chairman, Mr.Priyath is said to have stated: “ We are in talks with a few Indian companies to partner us for investing in projects in India. We are interested in many of the port projects that the Indian government is planning such as the fourth container terminal at Jawaharlal Nehru Port Trust”. A cryptic comment on the Sri Lanka’s interest by a senior official of the Ministry of Shipping is: “It is premature at the moment”. It is a well-known fact that the transshipment hub in Cochin and Vizhinjam port are in direct competition to the Colombo port. A senior director at Deloitte Touche Tohmatsu, Mr.Hemant Bhattbhatt, has observed: “In such a scenario, there is no valid reason for Sri Lanka to invest in Indian port projects as it would only hamper their projects. There could be ulterior motive behind their intention”. He strikes a note of caution: “Much like the PSA-ABG deal at JNPT which cost the port time in developing the project and now forcing to go for a re-bid, the intention of the Sri Lanka ports need to be ascertained clearly if they were to bid for projects in India”.
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