Abu Dhabi companies to invest in Sri Lanka

Sri Lanka's development has reached a high level with strong infrastructure facilities such as reliable water supply, highways and power required for investments, said Rashid Mohd Mehren, Managing Director of Abu Dhabi's Ghantoot Group and head of the Abu Dhabi investment team visiting Sri Lanka. Rashid Mehren said so when the delegation met Economic Development Minister Basil Rajapaksa at the Ministry office on Tuesday.

They discussed major investments in the fields of pharmaceuticals, power generation, hotel construction and cement industry among others. Minister Rajapaksa told the visiting team that with the dawn of peace after nearly 30 years of war and the rapid pace of development had encouraged foreign investors.

He cited examples of the expanding road network such as the Southern Expressway and the Northern Expressway (the construction of which is to begin soon) which would be a major improvement in the transport sector, facilitating the rapid movement of goods and the provision of other services.

This in turn would help to boost the tourism industry, added Rajapaksa who also drew attention to new export-oriented industries such as fruit processing and agro-products.

Mahinda Balasuriya, Sri Lanka's Ambassador in Abu Dhabi, Nidal Armouti, General Manager, Electrical Division, Ghantoot Group and Richard Menezes, General Manager UTICO, S Jayurai, GM Cement Manufacturing Division, Ghantoot Group were among the others who participated in the discussions.