š Hambantota Port Target Growth via Suez Corridor Recovery
Hambantota International Port Group (HIPG) projects significant expansion as major East-West shipping services return to the Red Sea and Suez Canal route. ā¢ Strategic Expansion & Investment: HIPG committed US$ 149 Mn towards new container handling equipment. Target capacity expansion: 2.0 Mn TEUs annually by Q1 2027. Container business initiated in April 2024 via MSC transshipment, leveraging Colombo Port congestion. ā¢ Key Operational Drivers: Proximity to the East-West shipping line enhances appeal for transshipment. Expected surge in demand for bunkering, ship supplies, and maritime services. Building gateway cargo base through local import/export cargo, a new inspection centre, and regional industrial development starting early 2027.