ECONOMYNEXT – A ‘plug and play’ industrial park for home appliance factories by China’s Xinji group has begun construction three weeks after an agreement was signed with an industrial port run by CM Ports which is providing support services to speed up the project.
On June 11, Hambantota International Port Group (HIPG) which a unit of China’s CMPorts which operates the port and industrial zone singed a joint venture deal with Shenzhen Xinji group, a Chinese firm which has been active in construction in Sri Lanka for several years.
Xinji will provide ready-made factory space for electronic goods makers under a ‘park-in-park’ concept within the Hambantota port’s industrial zone, HIPG said.
Chief Executive of HIPG Johnson Liu said the 9000 square meter facility will allow manufactures to “hit the ground running”.
Under its ‘HIPG Speed’ branded investor facilitation service, the port firm helps investors clear bottlenecks in anything from construction to logistics or training.
“In the case of the Xinji project, we took only 20 days from completion of the project signing to commence the site construction,” Tim Xiao, Senior General Manager- Port Investment Services, Legal and Corporate Affairs of HIPG said.
“This approach on our ease of doing business at HIPG can assist any project investment to push through during a pandemic or normal times.”
Xinji expects the first home appliance production unit to be read in 12 months.
“Our modern standardized factory set up will be ready to roll out the production of home appliances within a span of 12 months,” The Xinji Group’s Chairman Yang Lin was quoted as saying in statement.
“The concept is to act as an incubator to support more enterprises, who will have a simplified entry into the Hambantota Industrial Park.”
Mahasen Ranagala, General Manager of Xinji Group in Sri Lanka said factory will provide jobs and also work for other businesses including printing and packaging. (Colombo/July07/2021)