Sri Lanka to make Kankesanturai commercial port with India funds
Jan 12, 2018 14:42 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka is to make the northern port of Kankesanturai a commercial port that will handle regional trade under an agreement with India which is providing a loan of US$ 45.27 million (Rs6.9 billion) for the project.
An Indian High Commission statement said the agreement to upgrade KKS harbour was signed on 10 January 2018 in New Delhi by David Rasquinha, Managing Director, Export-Import Bank of India and R.H.S Samaratunga, Secretary to Treasury of Sri Lanka.
The port, which was damaged during the ethnic war, was earlier dredged and cleared of wrecks with Indian aid under a program to rehabilitate Kankesanturai.
“The fresh assistance of US $ 45.27 million (LKR 6.9 billion) would be used for the remaining two phases involving works relating to the rehabilitation of the breakwater and existing pier, construction of a new pier for commercial cargo handling, and installation of port infrastructure facilities,” the statement said.
(COLOMBO, January 12, 2018)