Global Park nominated international logistics hub

Tamara Nissanka

Marks and Spencer nominated Global Park, Seeduwa to be its international logistics hub. This BoI approved venture is the first ever international logistics hub in the world.

Business Development and Infrastructure Manager of Global Park, Priyanka Dissanayake told Daily News Business that the total value of the project amounts to 15 million US dollars.

Under the project, Global Park will provide Marks and Spencer with storage and other infrastructure facilities. Global Park receives garments from 21 countries world wide, and subsequently redirects them to global destinations as directly marketable commodities, after having made value additions in the Seeduwa storage facility.

Marks and Spencer plans to increase its international business by 15-20 per cent within the next five years. The newly launched logistics hub is expected to spur the company's capacity in achieving this goal.

Dissanayake said this venture has opened 1000 employment opportunities especially for the youth. Global Park expects a 20 per cent increase in revenues as a result of this initiative. Global Park, a final finishing plant owns a storage capacity of three million pieces.

Dissanayake mentioned that Sri Lanka is fortunate to have successfully negotiated this agreement with Marks and Spencer, as it provides the country with a competitive edge over other international competitors in the apparel sector, such as India and Bangladesh.

"This will be a boost to our garment industry, and also it positions Sri Lanka strongly in the global economy." Media Director of the BoI, Dilip S. Samarasinghe said.

According to the venture launched yesterday, garments belonging to Marks and Spencer will be imported and delivered to Global Park by RJV International, and these goods will be catagorised and exported to Marks and Spencer entities world wide.