Hambantota Port calls for new proposals

Indunil HEWAGE

The Sri Lanka Ports Authority will call for the second request for project proposals to set up new businesses at the Ruhunu Magampura Port in a bid to facilitate more international investors interested in commencing new businesses in Hambantota.

Sri Lanka Ports Authority hopes to sign agreements with industrialists who have already obtained Cabinet approval to set up new businesses at the Ruhunu Magampura Port.

Speaking to Daily News Business, Ruhunu Magampura Port Chief Engineer Agil Hewageegana said the initial stage of the port project proposals saw three investors out of 14 eligible investors been given Cabinet approval and the remaining investors will also be able to obtain Cabinet approval shortly.

Accordingly, Peak Energy Pvt Ltd will invest US $ 434.5 million for a petro chemical plant as a joint venture project between Singapore and India while Shree Renuka Sugar Limited will infuse US $ 220 million for a sugar refinery plant and Hayleys Group is in a US $ 7.3 million fertilizer processing plant.