BOT agreement for port of Colombo

The total investment in the project is as per CMHI expected to exceed US$ 500 million and is Sri Lanka's single largest private-sector foreign investment project. Under the BOT Agreement, CMHI is granted the right to manage and operate the project for a term of 35 years. The terminal comprises a total quay length of 1,200 m and a land area of 58 hectares, with a water depth of 18m. The project is expected to take two phases, with Phase I to be ready for operation by early 2013. As per agreement the operating company, CICT, the operating company, is established. It is a joint venture of CMHI, Aitken Spence Plc and SLPA for the design, construction and management of the CST. CMHI holds 55% of CICT while Aitken Spence Plc holds 30% and SLPA, 15%.