Hambantota commercial project evaluation soon

Indunil Hewage

Evaluating investor proposals to grant permission to set up new ventures in the Hambantota port is in progress.

The project committee will complete the evaluation process shortly, Hambantota Port Chief Engineer Agil Hewageegana said. Currently, 27 investors have bid to set up commercial projects in the Hambantota port.

Earlier, 63 documentations had been taken by foreign and local investors to submit their proposals.

Accordingly, six investors have bid for the cement industry, two investors for the vehicle assembling, three investors for warehousing, one investor for a sugar refinery, one investor for fertilizer and two investors for petro chemicals. "Initially we are assessing the technical eligibility of investors. We have to assess the financial statements of the companies upto August, 2009 before granting permission for them to set up ventures.

Following the approval, investors will have to set up ventures within one and a half years.

"However, most investors have shown willingness to set up ventures in October and November this year," Hewageegana said. A few months back the Government requested project proposals from potential investors to establish ventures in the Hambantota industrial port. Earlier, the deadline for accepting project proposals was September 30. Investors requested more time to submit proposals and the committee extended the deadline to October 15.