Business Times

Sri Lanka receives highest, ever value FDI project - US$4 bln, says BOI

The Board of Investment of Sri Lanka (BOI) has signed an agreement with Sri Lanka Gateway Industries (Pvt) Ltd in what is seen as the country’s biggest, ever (in value terms) FDI investment – US$4 billion.
The project entails the development, operation and management of a special industrial zone for heavy industries, in the Trincomalee district.

M.M.C.Ferdinando (left) and Prabath Nanayakkara

“The project master plan includes the development of a deep water jetty, bulk commodities terminal with stockpiling and blending capabilities, power generation plant, and a host of other heavy Industries and complementary industries, and will be delivered in three phases, with a total investment exceeding $4 billion,” the BOI statement said.

The project was first reported in the Business Times edition of May 13, 2012 in a story headlined “Tug of war between Treasury and BOI hinders US$2 billion FDI target”. That report quoted acting BOI Chairman and Director General, M.M.C Ferdinando as saying that “he initiated a massive project to set up (a) heavy industrial investment zone in Sampur at an investment of US$4 billion.”

This project will open opportunities for many export/import markets in the Asian, African, Australian and American continents, and provide a strategic access gateway to satisfy the growing demands of the Indian market.

Some 5000 direct employment opportunities and over 20,000 indirect employment opportunities are expected to created from this project. Prabath Nanayakkara, Chairman of Sri Lanka Gateway Industries said the project will change the economic landscape of Sri Lanka.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
 
Other Business Times Articles
Missing sugar from Sevanagala
Uncertain, World Bank-funded tourism project finally off the rail
SL medical transcription to grow in insurance sector
Inaugural meeting of proposed investors association
Dialog launches ground-breaking easy payment mobile facility
LINK LANKA tackles digital taxi meter demand
Comment - Conflict of interests Sri Lankan-style
Conflicts-Play of interests
Three trade secrets on successful powerful corporate presentations
Stock market 'mafia' controls the market: Vignarajah
Sri Lanka Tourism gets ‘Googled’
Sri Lanka receives highest, ever value FDI project - US$4 bln, says BOI
95% of Carson Group workforce in Indonesia, Malaysia and India
Singer adds Huawei smart phones
Debt-free Access Engineering records Rs 2 bln in pre-tax profits
Telecommuting as an option to stressed travel
Vietnam travel promotion in Colombo
Union Bank goes for TV banking
Pushing the power of Asia
National consumer welfare policy for Sri Lanka
CSE detects 20 suspected malpractices; resolves 44 investor complaints in 2011
Trade policy challenges for Sri Lanka in the post-conflict Era
Top corporates and professionals to speak at 2012 SAFA-CMA Summit
SIA offers 2 biz class tickets to any destination in online competition
Spa Ceylon gives Ceylon Tea a new fillip
Colombo bourse up on policy rates, rupee depreciation
SEC further 'grills' NSB-TFC deal culprits
Rupee depreciation beneficial to Spence
Foreign visitors on upward drive
Taj Samudra organizes clean up of Galle Face Green

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2012 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution