US $ 700 m investment:

Heavy industry zone in Trincomalee

There is a growing enthusiasm for private foreign investments in infrastructure development with the dawn of peace in the country.

Mitchell Consortium, a multi-national consortium from Australia with partners from Brazil and Sri Lanka has made an unsolicited proposal to locate a zone which includes coke plant, an iron ore palletizing plant, a manufacturing plant and machinery, a sugar refinery etc, the Government website said. As such a project needs an area with terminal facilities it was decided to establish this special zone for heavy industry at Sampur in Trincomalee on a land extent of 97 sq km.

On a proposal by the President, the Cabinet approval was granted for the Consortium to conduct feasibility studies and submit their reports to the Government. Investment for Phase I of the project will be US $ 700 million.