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Saturday May 15th, 2021
Economy

Sri Lanka northern expressway draws Malaysian investors

EconomyNext – Malaysian investors are bidding to build an expressway linking the Sri Lankan capital Colombo to the northern Jaffna peninsula, a visiting government official said.

“We are bidding for Northern Highway on BOT (build-operate-transfer) basis," declared Dato’ Seri S. Samy Vellu, Malaysia’s Special Envoy of Infrastructure for India and South Asia with Ministerial rank attached to the Prime Minister’s Office.

"We want to do a good job if we get it," a statement quoted him as saying on a visit to Colombo leading a Malaysian business team.

"Even the 1,100 km Kuala Lumpur highway at first had few vehicles but now every day a million vehicles pass through,” said Vellu during talks with Rishad Bathiudeen, Minister of Industry and Commerce

He said Malaysia would like to partner with Sri Lanka on Government-to-Government (G2G) projects, having done such projects in Bangladesh and India. 

The statement said Malaysia is the largest source of foreign direct investment in Sri Lanka with well-known ventures like Dialog Axiata, Merbok Mdf Lanka, Lion Brewery (Ceylon), Hemas Hospitals, Dankotuwa Porcelain, Sunshine Ventures, and APIIT Lanka Ltd.

"Malaysia ranks first among countries that have invested to-date in Sri Lanka through Board of Investment. Realized total FDI from Malaysian projects exceeded 1.28 billion US dollars by the third quarter of 2014."

 

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