Mega development of Trincomalee getting into top gear in new year

Foreign businesses reinvesting over $ 400 million

Shirajiv Sirimane in Trincomalee

Investment: The foreign investors in the Trincomalee district would be re-investing over US $ 400 million for the expansion of their present mega projects in the area.

The Minister of Enterprise Development and Investment Promotion Rohitha Bogollagama who visited Trincomalee on Saturday told Daily News that both Prima Lanka Limited, the Singapore based company and Japan's Mitsui Cement Co. are making major investments this year for expansion.

"The fact that these companies are re-investing in Sri Lanka is a clear indication of their confidence. It also shows that there is peace in the area otherwise they would not re-invest," he said. "Already there is de-escalation of violence in the area."

He said that there have been many pledges for Foreign Direct Investment for the area and due to this the Board of Investment is being mobilized to meet their requirements and a regional office would be set up in China Bay this year. The work on the new Industrial Zone too has commenced and the Minister also visited the site to monitor the progress during his tour yesterday. "We are hoping to provide this area for investors to set up their industries and other logistics," he said.

He said that last year the Government had cleared all obstacles and consolidated its position in the Trincomalee district for the proposed accelerated economic development this year.

All plans have been drawn up for the mega-accelerated development of Trincomalee. "Community and economic and infrastructure development have been given priority and already there is de-escalation of violence in the area," he said.

Minister said that the area has been neglected and it was President Mahinda Rajapaksa who directed that the area be developed. Construction of roads has already begun and 27 kilometres of the new road leading to the proposed coal power plant have been built.

In addition to these mega development ventures, micro level projects too are currently being negotiated and plans have been finalized to start construction of a new market for the area soon. "The President has identified this as one of the main priorities since the old market was bombed by LTTE," he said.

He said mega tourism development projects too are in the pipeline. The facilities of the Small and Medium Entrepreneurs Bank (SME) too would be extended to Trincomalee and public service would be intensified to provide a better service to the area.

He said that a unique feature he noted was that all political parties are working hand-in-hand towards the proposed mega development for Trincomalee and this was very encouraging.

With the proposed coal power plant in Trincomalee, for which the agreement was signed between the Indian investors and the President last week, the total foreign investments in Trincomalee including the Prima, Mitsui and IOC would pass the US $ 2 million mark.