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)