Saudi Group to invest on dockyard in Galle Port

by Naalir Jamaldeen

The Hadi Hamad Al-Hammam Group in Saudi Arabia will invest on a project to set up a dockyard in Galle Port, Eastern Province Agriculture, Fisheries, Environment, Livestock Development and Rural Industries Minister Hafiz Naseer Ahamed said.

The Al-Hammam Group will invest US$ 44 million under the first phase and provide 1,500 direct job opportunities. It hopes to invest US$ 110 million under the second phase and provide 5,000 direct job opportunities he said.

For the fast time a Saudi based institution will invest such a large amount of money to launch a project and it would further strengthen bilateral ties between the two countries.

Sri Lanka Ports Authority (SLPA) Chairman, Dr. Priyath B. Wickrama, President of Hadi Hamad Al-Hammam Group Hadi Hamad Al-Hammam signed the agreement.

The company will build and repair vessels for Sri Lanka and the Maldives, he said.

Several top ranking officers representing Sri Lanka and Hadi Hamad Al-Hammam were present.

"The project will also create employment opportunities for marine engineers apart from ship repairing and shipbuilding worldwide", he said.