A new port being built in Sri Lanka's southern Hambantota has drawn investment proposals from local and foreign businesses including the local Senok Combine and Mic
ro Car for vehicle assembly, officials said.Madras Cements, India's fifth largest cement maker and part of Chennai-based Ramco Group, has also proposed investing in a cement terminal at the port, a greenfield site to be operated as a free port with no taxes.
A Sri Lanka Ports Authority statement said that 27 local and foreign companies among 63 that collected the request for investment proposals have submitted bids.
"The response shows investors are keen to invest in the new port," said Agil Hewageegana, SLPA chief engineer in charge of the port project in Hambantota known as Magampura Port.
He said some of the local firms that sent proposals are in joint ventures with foreign partners.
The new deep water harbour close to the main shipping route across the Indian Ocean, to function initially as an industrial port, was built by Chinese firms and largely funded by Chinese loans.
The SLPA received six investment proposals for cement terminals in Hambanthota when bids closed last week, two for vehicle assembly, two each for liquid petroleum gas and petro-chemical complexes, and three for warehousing.
Investors have also bid to set up a sugar refinery and a fertilizer plant.
The two local firms interested in vehicle assembly are Senok Trade Combine, agents for vehicle manufacturers like Audi, Subaru and Skoda, Transmec Engineering, which assembles the 'Micro Car' in Sri Lanka.
Pakistan's Jamshoro, based in Lahore, which had bid for part of the Shell Gas assets in that country has submitted a proposal for an LPG terminal.
Proposals petro-chemicals investments have come from a Singapore firm and Advance Surfactants Lanka, which makes industrial chemicals.
The SLPA said a total land area of 2,000 hectares belonging to the Magampura Port will be available for local and international entrepreneurs.
"Magampura Port is being developed as a multi-purpose, industrial and service port and aims to make the best of the expanding markets of the Indian sub-continent, with short transit times to India, Africa and the Gulf region," it said.
The government plans to start phase two of the project during the last quarter of this year with the contract agreement recently signed between China Harbour Engineering Company and SLPA.
The financial assistance would be extended by the the People's Republic of China on a concessionary basis, the statement said.
The second phase will expand and deepen the harbour, adding more berths and cranes to handle containers.
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