Sri Lankan government to obtain US$ 48 million Indian credit line to develop northern KKS harbor
The government of Sri Lanka is looking at obtaining a US$ 48 million credit line from India for the development of Kankesanthurai (KKS) harbor.
Secretary to the Northern Development Ministry of Sri Lanka V. Sivagnanasothy has told a local English daily newspaper, the Daily Mirror that the Cabinet approval had been secured to proceed with the development of this Port in the North for commercial purposes.
He has said further talks would be conducted with the Indian authorities for the development of it.
“A fresh Cabinet paper will be submitted later seeking approval for the land acquisition for the Port development,” he has said.
Sivagnanasothy has said the government had allocated Rs. 2 billion to develop the Palali Airport in the Northern Province for international flight operations. The runway, at the Airport, is 2,600 metres in length. Of it, a stretch of 950 metres has already been developed.
The government is reportedly planning to develop 1350 metres of it in total.
“Our idea is to develop it as an airport to operate A320 aircraft,” Sivagnanasothy has said.
Later, he said Indian assistance would be sought for further expansion.
“We have held initial talks with the Indian High Commission,” he has added.
OSL take:
The government of Sri Lanka is paying great attention for the development of the northern peninsula of the country. The KKS harbor and the Palali airport in the north are two such strategic ventures the government is looking at developing to reach regional standards. With the government looking at securing funding for the projects through an Indian credit line, there will be an expansion in business/investment opportunities in the country, especially in the northern province of Sri Lanka.
| Article Code : | VBS/AT/20022019/Z_4 |