Business boom if Sri Lanka wins bid for CWG 2018
Sri Lanka's bid for the 2018 Commonwealth Games could lead to a
$5-billion investment opportunity for Indian firms to exploit, Lanka's
High Commissioner to India Prasad Kariyawasam said.
"The city that we are proposing (for the Games) is Hambantota. In
case we win the bid we will require massive investment to put up
facilities as we are trying to build from scratch," he said.
"If we win the bid, then there will be a lot of opportunities in the
construction sector for all, and naturally India being the closest
neighbour with the capacity will be very competitive in terms of getting
contracts because they might be able to deliver at cost effective
prices," Kariyawasam said.
He pointed out that India would enjoy a cost advantage because of its
close proximity to Sri Lanka. "Indians will also have an understanding
of how to handle the manpower even if they do not want to bring in their
own manpower," the High Commissioner said.
At the moment, India is among the four largest overall investors in
Sri Lanka with total investments in the vicinity of $400 million. The
major investors include Tata, CEAT, Ultratech Cements, IOC, Airtel and
A decision on the city to host the games is expected in the next few
months. Gold Coast in Australia is the other contender city.