Sri Lankan conglomerate to build logistics facility with million dollar investment
Sri Lankan conglomerate John Keells Holdings (JKH) is reportedly building a logistics facility with an investment of US$ 13.96 million will provide a range of services for businesses, from inventory management and value addition to managing returns.
Sri Lanka’s state owned investment promotions agency, the Board of Investment (BOI) has stated it has signed the agreement with Logipark International (Pvt) Ltd., a unit of JKH, to construct, commission and operate the logistics center.
It will provide integrated logistic services, container freight station, multi country consolidation and a range of local and international logistics solutions, a statement has said.
The facility will be located within the Muthurajawela Logistics Zone in Kerawalapitiya, Wattala located north of Colombo.
Senath Jayatilake, Chief Executive and Vice President of the John Keells Group has been quoted as saying John Keells Logistics, under which the facility will come, is a key player in the third party logistics business.
“This latest venture will further enrich our service portfolio by establishing a world class infrastructure platform capable of providing superior warehousing and fulfillment solutions to both local and foreign supply chains,” he has said.
“Fulfillment solutions cover the entirety of a client’s supply chain including inventory management, order picking, packing, value addition, assembly, delivery and returns management of products,” Jayatilake has noted.
“This is a considerably large operation with a cargo storage capacity of 40,000 cubic meters. The facility is also capable of handling over 300,000 cubic meter of cargo per month in a single shift operating model.
“There will be multiple users and industries occupying this facility, and it will offer a one stop shop service proposition for fulfillment and warehousing requirements.”
OSL take:
The million dollar investment in a logistics facility by a Sri Lankan conglomerate while showing the strength of Sri Lanka’s private sector also indicates the growing business/investment opportunities in the country’s maritime and logistics sectors. Sri Lankan authorities are aiming at making Sri Lanka a hub in the Indian Ocean and have ensured the continuous development of the maritime industry. The government of Sri Lanka is also in the process of liberalizing the maritime industry making way for global maritime giants to enter the local industry. Given the developments in Sri Lanka’s maritime industry, foreign companies could explore business/investment opportunities in Sri Lanka’s maritime sector.
| Article Code : | VBS/AT/13032019/Z_4 |