13 investors shortlisted with US$ 1 billion investments for Sri Lanka’s Hambanthota harbor project

July 25, Colombo: Sri Lanka Ports Authority Chairman Dr. Priyath Bandu Wickrama said 13 investors were shortlisted for the first stage of Magampura harbour project when Request for Proposals (REP) were called and managed to secure US$ one billion in investments.

Speaking at the Hambanthota Investment Forum organized by the Hambanthota District Chamber, the chairman said “We also granted approval for one more investor and the total investment pledged by them is now US$ one billion.”

The Chairman said that they will forward these proposals for Cabinet approval and the projects will commence from September.

These investors will be allocated 100 hectares under phase one and an additional 300 hectares under the second phase. The tax-less investments include a sugar, fertilizer and cement plants, two car assembly plants and petro chemicals related investments.

According to the Chairman, these projects would be for value addition and transshipment and only port related duty will be imposed.

He also disclosed that they will be calling for REP for the second stage of the project in October this year. The phase two of the harbour containing 10 berths will be ready by 2014, he added.

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