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Thursday December 9th, 2021
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Sri Lanka to remove heavy industry monopoly in Trincomalee port

ECONOMYNEXT – Sri Lanka’s cabinet of minister had approved a proposal to remove an existing monopoly that allows only heavy industry of a type to be established in Trincomallee port, a government statement said.

At the moment Tokyo Cement has grinding plants in Trincomallee, and Singapore-based Prima has a wheat flour mill.

Sri Lanka Ports Authority owns around 2,000 hectares around the port which could be used for heavy industry, according to a cabinet memo submitted by Mister of Ports.

To attract investors into heavy industries around the Port the Cabinet of Ministers had approved the removal of the monopoly.

There is also a tank farm in Trinco which is leased to Indian Oil Corporation. (Colombo/Oct18/2021)

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