German wind Power Company to invest in SL

Shirajiv SIRIMANE

For the first time a German multi national wind power generating company is contemplating in opening one of their plants in Sri Lanka.

Sarath Kongahage

The Sri Lankan Ambassador in Germany, Sarath Kongahage in an interview with ‘Daily News Business’ at the ITB event in Berlin last week said that he has already forwarded this proposal to Sri Lanka and the German company is being kept informed of the developments in Sri Lanka. He said several other leading companies are keen to invest in solar power; tourism sector and infrastructure projects. Already small time businessmen have set up joint venture hotel projects in Beruwela and Hikkaduwa areas.

“They are also keen at making investments related to Ayurvedha products and service,” he said. A German toy manufacturer, Fehm GMBH has started a manufacturing plant in the Puttalam district in 2010 employing over 300 workers. Germany is Sri Lanka's second largest investor from the European Union. Many of the German companies operating in Sri Lanka are global leaders in their field of specialization.

The investment areas include apparel,hosiery knitwear, surf sails, textiles, electronic products, light and heavy engineering, rubber based products such as tyres and automobile spare parts, coir products, wooden/soft toys, chemicals and dyes, gems and jewellery and recreational projects. Commenting on tourism he said that Germany is the second largest European market in Sri Lanka with over 55,000 arrivals last year. One of the biggest advantages of a German tourist is that they are loyal to a destination and keep returning many times.

“In addition they are long stayers (14 days) and the economic crunch in Europe did not have a negative impacts on the German economy.” He predicted that German arrivals to Sri Lanka would pass the 100, 000 marks this year.