Feasibility study to be carried out on Indo-Lanka bridge
The Morning: India is to soon carry out a feasibility study for the 23km bridge connecting India and Sri Lanka as the proposed bridge will be a boon for bilateral trade between the two countries, The Times of India reported.
Quoting sources, The Times of India reported that the External Affairs Ministry (MEA) of India had held a meeting with other ministries and Government agencies on the proposed bridge between India and Sri Lanka where the MEA officials had informed the meeting about its plan to carry out the feasibility study for the bridge before preparing a detailed plan.
India and Sri Lanka had agreed to examine the viability of developing land access to the ports of Trincomalee and Colombo during Sri Lankan President Ranil Wickremesinghe’s visit to Delhi last July. The need for this sea bridge has been part of discussions for more than a decade.
“A host of issues pertaining to other sectors including dairy, oil, power and shipping which came up during President Wickremesinghe’s visit were also discussed at the meeting. The long sea bridge would require huge funds, but it would prove to be a boon for bilateral trade. But for that, the Government has to evaluate technical, economic, and environmental aspects to see whether it’s viable,” a source has told The Times of India.
It is expected that the bridge will connect India’s Dhanushkodi to Talaimannar in Sri Lanka and is to provide access to the ports of Trincomalee and Colombo.
During his visit to India last July, President Wickremesinghe also announced another feasibility study for a gas pipeline where the construction of a multi-product petroleum pipeline from the Southern part of India to Sri Lanka will ensure an affordable and reliable supply of energy resources to Sri Lanka while working on connecting the electricity grids of the two nations by 2030 with 550 MW cable in the first stage.
OSL take:
Sri Lanka and India enjoy strong bilateral and trade ties that have been further strengthened through an operational free trade agreement (FTA) that will be further strengthened through the proposed ETCA. The two countries are also focused on increasing connectivity between Sri Lanka and India. This connectivity is being looked at under several key spheres like power, energy, sea and land. Sri Lanka’s geographical positioning in the Indian Ocean and the close proximity to India, one of the fastest growing economies in the region, will help Sri Lanka achieve the target of becoming an emerging business destination in the South Asian region. Given the growth and expansion of Indian businesses operating in Sri Lanka, Indian businesses/investors could confidently explore the expanding opportunities in Sri Lanka. Also, foreign businesses/investors interested in doing business with India could look at setting up base in Sri Lanka to engage with India.
| Article Code : | VBS/AT/20240209/Z_4 |