Eight business ventures at Trincomalee Port

Indunil Hewage

Sri Lanka Ports Authority (SLPA) is in the process of evaluating eight proposals from eight investors to start new business ventures at the Trincomalee Port, SLPA Planning and Development Chief Engineer Susantha Abeysiriwardena told Daily News Business.

Proposals have been received in the areas including cement, petro- chemicals, ship building, ship repair and bitumen exports.

"We will be able to get the Cabinet approval in the near future once the evaluation of project proposals was finalized. In addition, Sri Lanka Ports Authority will invest approximately Rs one billion for infrastructure development, particularly to develop roads and electricity facilities in the industrial park at the Trincomalee Port and this initiative will facilitate all prospective investors who have expressed willingness to build industries at the Trincomalee port," Abeysiriwardena said. The Trincomalee Port City Development project spreads across more than 1,000 acres of land and consists of an Industrial Park and a Tourism Zone.

Meanwhile, 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 next year.