Sri Lanka new port attracts cement terminal investment

Sri Lanka new port attracts cement terminal investment
Published: 25 October 2010

A new port being built in Sri Lanka’s southern Hambantota has drawn investment proposals from local and foreign businesses including an investment from India’s fifth largest cement maker, Madras Cements.
A Sri Lanka Ports Authority statement said that 27 local and foreign companies among 63 that collected the request for investment proposals have submitted bids.

"The response shows investors are keen to invest in the new port," said Agil Hewageegana, SLPA chief engineer in charge of the port project in Hambantota known as Magampura Port.

Madras Cements proposes investing in a cement terminal at the port, a greenfield site to be operated as a free port with no taxes.