Rs. 1 b for Trinco Port City
Indunil HEWAGE
Sri Lanka Ports Authority (SLPA) will invest approximately Rs one
billion for infrastructure development of the Trincomalee Port City
Development project in a bid to facilitate prospective investors who
have expressed willingness to set up port related new ventures in the
Trincomalee port .
SLPA will infuse money to develop roads and electricity facilities in
the port area. It was recently disclosed that the government was ready
to lease out land at the Trincomalee port to private investors and
Cabinet approval has also been granted to this move. The Trincomalee
Port City Development project which spreads across more than 500 acres
of land will mainly consists of an Industrial Park and a Tourism Zone.
However, the main focus of the authorities is to develop the industrial
park at the initial stage.
Sri Lanka Ports Authority last month published the project proposal
documents to private sector investors who are interested in setting up
port related business ventures in the Trincomalee Port Industrial Park.
At the moment, around 15 investors have purchased the required documents
from SLPA. Interested investors will be able to collect the project
proposal documents at the Port Committee Building situated in Fort until
April 10, SLPA Planning and Development Chief Engineer Susantha
Abesiriwardena told Daily News Business.
Each investor will be allocated five acre of land at the industrial
park. However, investors are allowed to subdivide or amalgamate the land
according to their preferences. The investors will have to comply with
the requirements as requested in the project proposal document to get
the SLPA approval to set up business ventures at the Trincomalee port
vicinity, a SLPA senior official told the Daily News Business.
While the Oluvil duel purpose harbour being constructed, the Galle
harbour too is undergoing transformation and is to be upgraded to a
tourism harbour. Many tourism related investment opportunities would be
open to investors.
Meanwhile the Hambantota Port project too has gained momentum with
over one billion investments being found. Heyleys was the first company
to invest in the Magampura Port by laying the foundation stone for a
fertilizer processing plant.
In addition aviation sector investors too would have an opportunity
to invest at the new Mattala Airport which is scheduled to be opened end
of the year.
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