A ship carrying motor vehicles is seen berthed at Chinese-built-and-operates Hambantota International Port in Hambantota, Sri Lanka, Aug 16, 2022. (PHOTO / AP)

COLOMBO- Sri Lanka's Hambantota International Port Group (HIPG) plans to develop its container transshipment business in 2024, the HIPG said in a press statement on Wednesday.

The port is now ready for container transshipment, said the HIPG, adding that in 2023, they continue to grow their "ro-ro" (roll-on/roll-off) and bunkering businesses that saw exponential growth in 2023.

Johnson Liu, chief executive officer of HIPG, said it is the right time to reconnect with Thailand, particularly with the Ranong Port, because international businesses are seeking more and more opportunities with the Sri Lankan economy

The HIPG said in line with the above business plans, the Hambantota International Port (HIP) has begun the process of reviving a MoU with the Thailand Ports Authority.

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The HIPG said an agreement was signed between the Ports Authority of Thailand (PAT) and HIPG five years ago, but the initiative hibernated with the COVID-19 pandemic and subsequent lockdowns.

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Johnson Liu, chief executive officer of HIPG, said it is the right time to reconnect with Thailand, particularly with the Ranong Port, because international businesses are seeking more and more opportunities with the Sri Lankan economy.

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"Connecting with the Ranong Port which operates under PAT is an obvious choice for Hambantota International Port in making strides to the BIMSTEC region," Liu said.