The net profit of the Colombo Port is to exceed Rs.1 billion during the 2010 financial year, Ports and Aviation Deputy Minister Rohitha Abeygunawardena said.

The present growth rate of income of the harbour is 14 percent. Steps have been taken to maintain this in the coming years.

‘This situation is really at satisfactory level. If this rate is maintained during the coming years, it is not difficult to convert the Colombo harbour to be among principal harbours in South Asia’, he added.

The facilities at the harbour are being enhanced aiming to meet the growing demand for the financial and naval transportation. Under the ongoing development program, two new breakwaters are being constructed. The main breakwater is 5.8 km long while the second breakwater is 1.1 km long. Out of the 5.8 km of the main breakwater, 2.7 km has already been constructed.

The Ports and Aviation Ministry has entered into agreements with three world renowned shipping lines this year. Accordingly, these shipping lines will commence cargo handling operations to and from the Colombo harbour and the ships of these companies will dock at the Colombo harbour.

The harbour will facilitate more ships with the completion of the first phase of the Colombo Southern harbour development project. Cargo handling ability will increase significantly. The Colombo Port has the capacity of handling 5000 containers per day now.