Sri Lanka Ports Authority projected to post Rs. 19 Bn Profit
- 5opn1
- November 22, 2024
- Business News
- Sri Lanka Ports Authority
- 0 Comments
Sri Lanka Ports Authority is projected to post a profit after tax revenue in the excess of Rs. 19 billion, Harbour Master, Sri Lanka Ports Authority Capt. Nirmal Silva said at the Voyage Sri Lanka 2024 press event.
He said that this profit could have further increased had they not invested in gantry cranes for their terminals. Tax for each Gantry Crain cost us around Rs. 980 million and these overheard had a negative impact on our profit margin.
He also said they also see an increase of TUES on the Port. He said that the SLPA would keep on reinvesting in their container terminal as the cargo volumes keep on increasing.
Capt. Nirmal Silva also said that the East Container Terminal is increasing the jetty from 600 meters to 1,200 metres and this is expected to be completed by 2026 end.
Along with this the West container terminal is being developed jointly by Adani with 51% stake John Keells 31 and SLPA with 15% stake as a private public model.
