Cabinet approves USD 4
bn S'pore investment in Sampur
The Cabinet has approved USD 4 billion
Industrial Park in Sampur, Trincomalee by Singapore based Gateway Group.
The proposal will be presented in
Parliament today by Minister of Investment Promotion Lakshman Yapa Abeywardena,
for debate.
The mega project, which would be
completed in three phases, within seven years, would facilitate heavy
industries, mainly from Singapore and would self-facilitate infrastructure and
other requirements for operations without the government having to provide
them.
Singapore based Gateway group would
invest more than USD 700 million within the first two years, followed by USD
1.3 billion, which would develop infrastructure, education and other facilities
to support the industries. That would be followed by a further USD 2 billion
capital infusion coming from industries to be set up there.
Minister Abywardena, addressing the
media in Trincomalee, said that the project would take off soon and enhance the
development of the eastern province, particularly Trincomalee. He said that the
government was aiming to capture another mega scale project for the Northern
Province as well.
Highlighting the opportunities in the
area, he said Trincomalee was the second highest contributor to the national
economy since the war ended in 2009 and it had a great potential.
He said the tourism zone in Passikuda,
which was located in close proximity to Trincomalee, had made progress and was
nearing completion. Ten of the 14 hotels had been completed so far, as well as
the infrastructure.
Courtesy : President
Media Unit
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