Industries to be set up in Hambantota

by Ranil WIJAYAPALA

With the commencement of commercial operations at the Hambantota Port, agreements for the commencement of industries will also be signed soon, Secretary to the Ports and Highways Ministry Ranjith Pemasiri told the Sunday Observer.

He said the Gazette notification with regard to the declaration of Hambantota Port as a free port, for investors who import material for industries and export their products directly to overseas market without paying any taxes was also issued, he added.

The Cabinet has approved a sugar refinery plant, petrol chemical plants and fertiliser storage processing and bagging plant at the Hambantota Port.

"The exclusivity agreements will be signed soon with investors to commence their industries at the port", he added.

"We will also call for expressions of interest from another set of investors to establish more industries within the port.

"We are expecting US$ 500 million from the port at the initial stages", he said.