Govt. to remove restrictions on heavy industries in harbours to attract investors to Trincomalee Port

Cabinet has approved a proposal to amend the existing policy of permitting only one heavy industry in a specified field in one harbour with the objective of attracting more investors to develop the Trincomalee Harbour. 

At present, it is the policy to implement only one heavy industry in a specific field in one harbour, the Government noted.

The Trincomalee Harbour development plan has been prepared to develop it as a centre port in the proximity of the Bay of Bengal with the accelerated development of the countries namely Bangladesh, Eastern costal area of India, Myanmar and Sri Lanka.

The natural situation of Trincomalee harbour, the land area in extent of 2000 hectares belongto the Ports Authority and in the proximity to the harbour as well as the developed infrastructure facilities prevailing to supply services have been taken into consideration while preparing this plan. In addition, it has been recognized that it is appropriate to make available opportunities to investors for establishing industries without special restrictions for the sake of the development of the harbour.

Therefore, the Cabinet of Ministers granted approval for the proposal submitted by the Minister of Ports and Shipping to amend the policy of one heavy industry to one harbour which is existing at present, with the objective of attracting interested investors to inaugurate heavy industries in the harbour, the Government added.