Sri Lanka FDIs to pick up with port interest: Finance Ministry
Investments at the port alone will be equal to the annual foreign investments realized a year between 1990 to 2010
LBR,
02 May 2011
Foreign direct investments will pick up with planned projects in ports and hotels valued at USD 500 million each, finance ministry secretary P B Jayasundera said.
He said a concession agreement has been signed in the Colombo port for a new terminal that will need USD 500 million to build. The terminal will be built by China Merchant Holdings, a Chinese state firm, and Aitken Spence.
Jayasundera said investments at the port alone will be equal to the annual foreign investments realized a year between 1990 to 2010. The BOI has still not published a foreign direct investment figure for 2010 but it is expected to be around $300 to $400 million, lower than the USD 600 million achieved a year earlier.