Sri Lanka is expected to open the Magampura project bids next week to grant permission for local and foreign investors to set up new ventures at the Magampura Port premises.
Twenty seven documentations that have been submitted by foreign and local investors seeking permission to set up new ventures at the Magampura port premises are being evaluated now.
The entire bid evaluating process has taken more time than expected as some investors have proposed various investment requests to the entire bidding process, Magampura Port Chief Engineer Agil Hewageegana told Daily News Business. Last year several investors had taken 63 documents to submit project proposals to set up new ventures on 90 hectares of land in the port premises, of which only 27 documents were handed over by the investors to Ports Authority officials.
In addition, a feasibility study is being conducted to build an island in the sea off Hambantota by using extracted soil from the Magampura port.
The study is being conducted to ascertain the total land extent and suitable land area that is required to build the island.
Construction work of the island will take place in keeping with the second phase of the Magampura port project.
The authorities have also managed to complete 60 percent of construction work of the Tank farm project coming up in the Hambantota area now.
It is also expected to attract bigger ships to the Magampura port by deepening the sea basin. The current fathom of the port is 10 metres and it is expected to deepen the basin up to 16 metres in another two months.
Following the completion of the deepening process of the port basin four ships can be accommodated at a time at the ports terminal.