Sri Lanka to set up industrial park with India: PM
Feb 03, 2017 07:58 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka and India will set up a joint venture industrial park in the North Central province, close to the expressway that is being built, Prime Minister Ranil Wickramasinghe said.
The government has identified an 800-acre site in Bingiriya, about 76 kilometres from the capital Colombo, to build.
Prime Minister Wickremasinghe said Andrapradesh Industrial Infrastructure Corporation and a Sri Lankan firm that runs an industrial estate in Sapugaskande near Colombo were in talks to operate the zone.
Andhra Pradesh Chief Minister Chadrabandu Naidu visited Sri Lanka earlier this year.
Wickremasinghe envisages a Bay of Bengal economic area encompassing Sri Lanka, the southern states of India and Burma across the bay.
The region was a vibrant economic hub until protectionist policies after independence from British policies killed off activity.
The talks with India comes as China has asked Sri Lanka to set up industrial parks of 15,000 acres to move over 2,000 industries.