Sri Lanka Invites Investments on Trinco Port. Large Tracts of Land in the Eastern Port to be Made Available by March

07th January 2011, www.lankabusinessonline.com

The Sri Lanka Ports Authority (SLPA) plans to invite investors to make proposals for investments in the eastern port of Trincomalee where large tracts of land are available by March, its chairman Priyath Wickrama said.

"We're developing Trincomalee and plan to issue a request for proposals to develop land," Wickrama said, delivering the annual P B Karandwala Memorial Lecture. "We plan to issue the RFP by March."

The lecture was organized by the Chartered Institute of Logistics & Transport Sri Lanka to honour a key figure in ports and shipping in the island.

Wickrama said 9,000 acres of land are available in Trincomalee and that previous RFPs had not drawn the desired response because of the ethnic war.

The 30-year war ended in May 2009 resulting in an economic boom which growth projected at 8.5 percent this year after eight percent growth in 2011.

"Now the situation has changed and there is a lot of potential for investments," Wickrama said.

Trincomalee will be developed more as a leisure port and no more industries will be allowed.

The port has a cement plant and flour mill.

"In the future we will not allow polluting industries as Trincomalee is a very sensitive area. It is one location where you can see elephants and whales - where the two giants on land and in the sea can be seen in one location."