Sri Lankan government to develop economic hub around Kankesanthurai harbor in the Northern peninsula
Prime Minister of Sri Lanka Ranil Wickremesinghe has reportedly said the government would take necessary measures to develop a vibrant economic hub around the Kankesanthurai (KKS) harbour in the Northern peninsula.
The KKS harbor is to be transformed into a commercial port with Indian assistance.
The Prime Minister has made this observation during a visit to the KKS harbor a few days back.
Wickremesinghe visited the KKS area to discuss the implementation of US$ 45.27 million development project for the KKS harbor.
The Premier has instructed officials to work expeditiously to finalise land acquisition and other preliminary work of the three-year development plan.
Wickremesinghe, in his capacity as the Northern Province Development Minister, has also obtained approval from the Cabinet of Ministers to develop the KKS harbor.
Ports, Shipping and Southern Development Minister of Sri Lanka Sagala Ratnayaka has tweeted that the KKS harbor, which is currently operated by Sri Lanka Navy, would be transformed into a port that can handle general cargo ships.
The transformation of the port is aimed to boost import and export sectors while generating a large number of direct and indirect employment opportunities.
OSL take:
The development of an economic hub around Sri Lanka’s northern KKS harbor, which is currently undergoing an upliftment programme, would open a host of new investment/business opportunities for foreign companies. Sri Lanka’s geographical positioning in the Indian Ocean and the close proximity between the country’s northern peninsula and India would result in the creation of many trade projects in the north. Sri Lanka enjoys trade agreements with many Asian nations including India and Pakistan. Therefore, Sri Lanka’s Northern Province would provide the ideal base for business for many foreign businesses/investors interested in penetrating into other Asian markets.
| Article Code : | VBS/AT/18022019/Z_2 |