Sri Lanka’s BOI funds common wastewater treatment plant upgrade at Horana EPZ
The Morning: The Cabinet of Ministers, based on a decision dated 5 June, 2023, has granted approval for the enhancement of the common wastewater treatment plant (CWWTP) at the Horana Export Processing Zone (HEPZ), funded by the Board of Investment of Sri Lanka (BOI), following the completion of the competitive bidding process and technical evaluation.
The bids were invited through the national competitive bidding process, which had 11 bidders that submitted the bids, and only four applicants were eligible for the detailed evaluation.
Bids were evaluated; at the evaluation stage, the Technical Evaluation Committee (TEC) determined the least substantially responsive bidder that had fulfilled the relevant qualifications and experience required for awarding the contract.
On 9 December 2024, the Cabinet took the final decision and approved the contract award to Luminex PLC, located at No. 24, New Galle Road, Moratuwa.
The newfound government is accelerating its efforts to attract foreign direct investment (FDI) to the country by providing much-needed infrastructure to existing and new investors.
The Horana Economic Processing Zone is a centre of attraction due to its location. One key feature of the BOI zones is the provision of services that enable investors to operate their businesses smoothly, and investors always prefer the “turn-key nature” of these facilities.
Electricity, water, and drainage systems; inbound illumination systems; and internal roads are the key attractions to the investors. These essential facilities enable investors to conduct commercial operations or constructions immediately after signs of agreement with the BOI.
The constituency of the Horana EPZ consists of more manufacturing-led investors, and the CWWTP is an integral part of the operation.
Most importantly, the Horana EPZ’s long-term viability and compliance with the ESG framework of the organization make it even better at meeting the UN’s Sustainable Development Goals (Goal 15).
Hence, it was identified by the BOI that the capacity of the existing CWWTP needs to increase, which is used for the treatment of wastewater discharges from industries at HEPZ.
OSL take:
Sri Lanka is currently on a drive to expand the country’s economy while also attracting more foreign businesses/investors to the country. While promoting the many business/investment opportunities in Sri Lanka in overseas markets and expanding the country’s trade ties with many foreign countries, Sri Lankan authorities are also focused on further uplifting and expanding the operations of the dedicated export processing zones in the country to meet the requirements of foreign businesses/investors. Sri Lanka’s geographical positioning in the Indian Ocean, the strong trade ties and the target of becoming a regional hub have all helped boost the country’s attraction as the ideal venue for foreign businesses/investors to set up bases to engage with other countries in the region. The trade concessions enjoyed by Sri Lanka with key foreign markets present the best incentive for foreign businesses/investors to set up bases in Sri Lanka’s export processing zones as well as expand operations through partnerships or joint ventures with local businesses. The incentive schemes offered by local authorities also serve to boost Sri Lanka’s attraction as a business/investment destination. Given all these developments foreign businesses/investors could confidently explore the expanding opportunities in Sri Lanka.
| Article Code : | VBS/AT/20250213/Z_2 |