Omar1984
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Pakistani company to set up cement processing plant at Sri Lanka's Hambantota port
Jan 10, Colombo: A Karachi-based Pakistani company has received approval from the Sri Lanka Ports Authority (SLPA) to set up a cement processing plant at the at the Port of Hambantota in the South.
A business proposal by Thatta Cement, a public limited company listed on the Karachi Stock Exchange and managed by Arif Habib Group of Pakistan has received SLPA's approval to set up a Cement Grinding and Packing Plant at the new port.
The proposal has been "scrutinized by the Cabinet Appointed Negotiating Committee (CANC), and forwarded to the Cabinet of ministers and after consideration approval was granted," the SLPA has said in a statement.
The Sri Lankan government has solicited proposals for business ventures and a Cabinet-appointed Negotiating Committee and a Project Committee have evaluated the proposals.
The Cabinet on the recommendation of the Committees has also given approval to set up a Sugar Refinery Plant by India's Shree Renuka Sugar Ltd, a Petrochemical Plant by Singapore's Peak Energy (Pvt.) Ltd, and a Fertilizer Storage, Processing and Bagging Plant by Sri Lanka's Haleys Advantis Ltd.at the port.
The three companies together will invest US$ 610 million in the proposed business ventures.
The $1.4 billion port in the Southern coast built with financial assistance from China plans to serve 2,500 ships annually.
Sri Lanka : Pakistani company to set up cement processing plant at Sri Lanka\'s Hambantota port
Jan 10, Colombo: A Karachi-based Pakistani company has received approval from the Sri Lanka Ports Authority (SLPA) to set up a cement processing plant at the at the Port of Hambantota in the South.
A business proposal by Thatta Cement, a public limited company listed on the Karachi Stock Exchange and managed by Arif Habib Group of Pakistan has received SLPA's approval to set up a Cement Grinding and Packing Plant at the new port.
The proposal has been "scrutinized by the Cabinet Appointed Negotiating Committee (CANC), and forwarded to the Cabinet of ministers and after consideration approval was granted," the SLPA has said in a statement.
The Sri Lankan government has solicited proposals for business ventures and a Cabinet-appointed Negotiating Committee and a Project Committee have evaluated the proposals.
The Cabinet on the recommendation of the Committees has also given approval to set up a Sugar Refinery Plant by India's Shree Renuka Sugar Ltd, a Petrochemical Plant by Singapore's Peak Energy (Pvt.) Ltd, and a Fertilizer Storage, Processing and Bagging Plant by Sri Lanka's Haleys Advantis Ltd.at the port.
The three companies together will invest US$ 610 million in the proposed business ventures.
The $1.4 billion port in the Southern coast built with financial assistance from China plans to serve 2,500 ships annually.
Sri Lanka : Pakistani company to set up cement processing plant at Sri Lanka\'s Hambantota port
