Sri Lankan Infrastructure and development thread (rail,road,skyscrapers etc etc)
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Godman
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Prime Minister Narendra Modi opens hospital built with Indian funds in Sri Lanka's hill country
Fri, May 12, 2017, 07:06 pm SL Time, ColomboPage News Desk, Sri Lanka.
May 12, Nuwara Eliya: India's Prime Minister Narendra Modi on Friday inaugurated the Hatton Dickoya Base Hospital built with Indian aid at Dickoya in the central Sri Lankan hill district of Nuwara Eliya.
The 150-bed multi-specialty hospital at Dickoya near Hatton in the Central Province was built with grant assistance of Government of India at an estimated cost of 1.2 billion rupees.
The three-story hospital building comprises a 150-bed ward complex, Medical Equipment Unit, Out Patient Department, Specialist Center, Intensive Care Unit, Maternity Ward, Emergency Treatment Unit, Labor Room and two Operation Theatres.
Additionally, a Blood Bank, Fire Fighting Equipment and two official residential buildings complex and other facilities required for a Base Hospital included.
The newly constructed building complex vested in the public by the Indian Prime Minister at the invitation of President Maithripala Sirisena and the Prime Minister Ranil Wickramasinghe.
President Sirisena addressing the public meeting held in Norwood playground in Hatton, stated that the government has accepted that the problems of all communities - Sinhala, Tamil and Muslim should be solved in social justice.
He added that the government is committed to strengthen the reconciliation through building of national unity. "The objective of the current government is to take the motherland forward as a strong country in world, through this reconciliation," he said.
Indian Prime Minister Narendra Modi also addressed this meeting.
Prime Minister Ranil Wickremesinghe, Ministers Dr. Rajitha Senaratne, Arjuna Ranatunga, P. Digambaram, Mano Ganesan, State Minister P. Radhakrishnan and the former Minister Arumugam Thondaman were among those participated in this event.
http://www.colombopage.com/archive_17A/May12_1494596176CH.php
Fri, May 12, 2017, 07:06 pm SL Time, ColomboPage News Desk, Sri Lanka.
The 150-bed multi-specialty hospital at Dickoya near Hatton in the Central Province was built with grant assistance of Government of India at an estimated cost of 1.2 billion rupees.
The three-story hospital building comprises a 150-bed ward complex, Medical Equipment Unit, Out Patient Department, Specialist Center, Intensive Care Unit, Maternity Ward, Emergency Treatment Unit, Labor Room and two Operation Theatres.
Additionally, a Blood Bank, Fire Fighting Equipment and two official residential buildings complex and other facilities required for a Base Hospital included.
The newly constructed building complex vested in the public by the Indian Prime Minister at the invitation of President Maithripala Sirisena and the Prime Minister Ranil Wickramasinghe.
President Sirisena addressing the public meeting held in Norwood playground in Hatton, stated that the government has accepted that the problems of all communities - Sinhala, Tamil and Muslim should be solved in social justice.
He added that the government is committed to strengthen the reconciliation through building of national unity. "The objective of the current government is to take the motherland forward as a strong country in world, through this reconciliation," he said.
Indian Prime Minister Narendra Modi also addressed this meeting.
Prime Minister Ranil Wickremesinghe, Ministers Dr. Rajitha Senaratne, Arjuna Ranatunga, P. Digambaram, Mano Ganesan, State Minister P. Radhakrishnan and the former Minister Arumugam Thondaman were among those participated in this event.
http://www.colombopage.com/archive_17A/May12_1494596176CH.php
Gibbs
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Sri Lankan cement demand grows to 2021
Cement demand in Sri Lanka will moderate over the next five years, according to a new report from CW Research, following average growth of 13% between 2010 and 2016. Cement demand reached 7 million t in 2016.
The 2010 – 2016 boom in demand came on the back of significant investment in infrastructure, driven by an urgent need for reconstruction work after the end of the long-running civil war in 2009. Since 2015, however, demand has started to slow as corruption concerns saw the suspension of large-scale infrastructure work.
There remains a “long-term and latent need for cement” in the country, said Robert Madeira, CW Managing Directory and Head of Research, pointing to the significant amount of work still to be done. “The challenge will be find the fiscal strength to implement projects.”
Sri Lanka also faces supply challenges, having to import substantial amounts of cement and clinker. This has pushed the country to become the fourth-largest importer of cement in the world. Principal suppliers include India, Pakistan, Indonesia, Malaysia, and Vietnam.
This situation is likely to continue, noted CW Research, as no new integrated cement production capacity has been announced. Cement grinding capacity is expected to increase by 14% by 2021.
“Poor limestone availability in the country to limiting the ability to effectively put in place domestic clinker production lines, leaving manufacturers subject to the fluctuations of clinker prices imported from India and Vietnam,” said Raluca Cercal, Senior Analyst with CW Research. “This said, exploration work continues and the search is on for quality limestone.”
Between 2016 and 2021, cement consumption will be supported by infrastructure projects and growing housing demand. Construction is expected to grow at an annual average of 8% over the next few years
https://www.worldcement.com/indian-subcontinent/05062017/sri-lankan-cement-demand-grows-to-2021/
Cement demand in Sri Lanka will moderate over the next five years, according to a new report from CW Research, following average growth of 13% between 2010 and 2016. Cement demand reached 7 million t in 2016.
The 2010 – 2016 boom in demand came on the back of significant investment in infrastructure, driven by an urgent need for reconstruction work after the end of the long-running civil war in 2009. Since 2015, however, demand has started to slow as corruption concerns saw the suspension of large-scale infrastructure work.
There remains a “long-term and latent need for cement” in the country, said Robert Madeira, CW Managing Directory and Head of Research, pointing to the significant amount of work still to be done. “The challenge will be find the fiscal strength to implement projects.”
Sri Lanka also faces supply challenges, having to import substantial amounts of cement and clinker. This has pushed the country to become the fourth-largest importer of cement in the world. Principal suppliers include India, Pakistan, Indonesia, Malaysia, and Vietnam.
This situation is likely to continue, noted CW Research, as no new integrated cement production capacity has been announced. Cement grinding capacity is expected to increase by 14% by 2021.
“Poor limestone availability in the country to limiting the ability to effectively put in place domestic clinker production lines, leaving manufacturers subject to the fluctuations of clinker prices imported from India and Vietnam,” said Raluca Cercal, Senior Analyst with CW Research. “This said, exploration work continues and the search is on for quality limestone.”
Between 2016 and 2021, cement consumption will be supported by infrastructure projects and growing housing demand. Construction is expected to grow at an annual average of 8% over the next few years
https://www.worldcement.com/indian-subcontinent/05062017/sri-lankan-cement-demand-grows-to-2021/
Godman
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Celogen Lanka opens USD6.6Mn pharmaceutical plant in Pallekelle
LBO
Posted on June 28, 2017 | General Services, Lead Story
June 28, 2017 (LBO) – Celogen Lanka (Pvt) Ltd has opened a new pharmaceuticals manufacturing plant with an investment value of 6.6 million dollars at the BOI Kandy Industrial Park at Pallekelle.
The manufacturing facility, a joint venture between Sri Lankan and India, was formally opened by President Maithripala Sirisena, the Board of Investment said issuing a statement.
The plant will be producing a wide range of tablets including Metformin, Losartan potassium and Atorvastatin, capsules such as Omeprazole and Soft Gel Vitamin A, E and A and D.
Currently Sri Lanka imports approximately one billion dollars worth of pharmaceutical products and is almost entirely dependent on imports.
The Government target is to reduce imports of pharmaceuticals by 70 percent by 2020, the statement added.
“The manufacture of pharmaceuticals is a target sector of the Government of Sri Lanka for import substitution and is also a thrust sector of the BOI and is actively promoted by the Board.”
http://www.lankabusinessonline.com/celogen-lanka-opens-usd6-6mn-pharmaceutical-plant-in-pallekelle/
LBO
Posted on June 28, 2017 | General Services, Lead Story
June 28, 2017 (LBO) – Celogen Lanka (Pvt) Ltd has opened a new pharmaceuticals manufacturing plant with an investment value of 6.6 million dollars at the BOI Kandy Industrial Park at Pallekelle.
The manufacturing facility, a joint venture between Sri Lankan and India, was formally opened by President Maithripala Sirisena, the Board of Investment said issuing a statement.
The plant will be producing a wide range of tablets including Metformin, Losartan potassium and Atorvastatin, capsules such as Omeprazole and Soft Gel Vitamin A, E and A and D.
Currently Sri Lanka imports approximately one billion dollars worth of pharmaceutical products and is almost entirely dependent on imports.
The Government target is to reduce imports of pharmaceuticals by 70 percent by 2020, the statement added.
“The manufacture of pharmaceuticals is a target sector of the Government of Sri Lanka for import substitution and is also a thrust sector of the BOI and is actively promoted by the Board.”
http://www.lankabusinessonline.com/celogen-lanka-opens-usd6-6mn-pharmaceutical-plant-in-pallekelle/
Banglar Bir
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Sri Lanka joins China’s One Belt One Road project with port at Hambantota
P K Balachandran, July 30, 2017
Sri Lanka Ports Authority Chairman Parakrama Dissanayake and Executive Vice President of CMport
With the signing of the amended agreement by the Sri Lanka Ports Authority (SLPA) and the China Merchant Port Holdings Company (CMPort) here on Saturday, Sri Lanka has well and truly joined China’s One Road One Belt (OBOR) multi-continental communications project.
With Pakistan, Bangladesh, Nepal and Myamnar also signing up for OBOR, India appears to be isolated and out in the cold in its own backyard.
Speaking at the signing ceremony, the Executive Vice President of the China Merchant Group (CMG), to which CMPort belongs, Dr. Hu Jianhua said: “The agreement will make sure that Hambantota port will achieve its due status as a gateway to the expanding economies of South Asia and the African region where we have similar layouts. With these maritime infra-structure investments, and other diverse investments, such as the proposed international maritime centre, Sri Lanka will be well positioned to play a strategic role in the One–Belt-One-Road initiative of the Government of the People’s Republic of China.”
Hu noted that the Hambantota project is the largest maritime communication project in Sri Lanka, to date. The bold decision to build the port was taken in 2009 when the world was going through an economic crisis. When fully functional, the port will contribute significantly to the economic development of Sri Lanka, he added.
Hu further said that China would bring to the port its established expertise in running ports successfully, just as it did in the case of the Colombo Port’s International Container Terminals. Because of the Chinese built and run Container Terminals, the Colombo Port is one of the 20 top ports in the world, he pointed out.
In answer to the criticism that Chinese companies are only interested in their work and making money the world over, oblivious to the needs of locals, Hu said that as part of its Corporate Social Responsibility, CMPort will have agricultural and health projects in the neighborhood of the port.
In his address, the Sri Lankan Minister of Ports, Mahinda Samarasinghe, said that the agreement on Hambantota will be the harbinger for more Chinese investments in Sri Lanka to enhance the island’s industrial potential. Sri Lanka, he said, is to set up several industrial zones which need Chinese investments.
Samarasinghe profusely thanked the Chinese Ambassador in Sri Lanka, Yi Xiliang, for working “tirelessly” to bring the agreement about in the face of opposition from Sri Lankan nationalists who decried an earlier agreement on the project (in December 2016) as a “sell out” and still continue to subject the government to barbs about ignoring the national interest.
Minister Samarasinghe took pains to explain the improvements made in the amended agreement in relation to the earlier agreements. The amended agreement secures for the Hambantota port, US$ 1.12 billion, in upfront payment from the Chinese partner CMPort, which will enable the SLPA and Sri Lanka to meet their debt repayment obligations.
It also gives the SLPA a 30% stake in the port, in contrast to 20% which was earmarked for it earlier under the December 2016 “Framework Agreement.” CMPort will now get 70% stake and not 80% as granted earlier.
Furthermore, the SLPA would get royalty and dividends. The security of the port would be entirely under the control of the SLPA. Warships could call at the port but only with the express permission of the SLPA and its security committee which will include the Defense Ministry and the Sri Lanka Navy.
Samarasinghe said that as per President Maithripala Sirisena’s suggestion, the amended agreement was placed on the table of parliament for discussion on Friday, but it could not be debated because of a ruckus created by the Opposition.
However, the agreement, as signed on Saturday would be presented to parliament again, because some might charge that it is different from the one presented on Friday, the Minister said.
He also pointed out that the agreement is not cast in stone for all time, and that it can be amended “at any time with the consent of both the parties.”
Finance Minister Mangala Samaraweera said that with the development of the Hambantota port, other districts of southern Sri Lanka will also grow and that economic growth will not be restricted to Colombo district, as has been the case so far.
Opposition
However, a discordant note was struck by the Marxist/ultra nationalist Janatha Vimukthi Peramuna (JVP), whose leader, Anura Kumara Dissanayake, said that the JVP will ask workers in the SLPA to reject the agreement. He said that bunkering should have been kept exclusively with the SLPA as it is a money spinner.
Significantly former Ports Minister Arjuna Ranatunga who has been opposed to the deal, wanting a 60% stake for the SLPA and not 70%, did not attend the signing ceremony.
Controversy
Located near the main shipping route between Asia and Europe, the Hambantota port has been mired in controversy since CM Port built it for US$1.4 billion. The port did not get custom and was running up a huge loss. Other than car carriers which were forced to call at Hambantota, only 19 ships called in 2015; 14 in 2016 and 10 so far in 2017.
According to SLPA Chairman, Parakrama Dissanayake, the port had run up a humongous cumulative loss of LKR 46,711 million and the annual loan repayment was a hefty LKR 9100 million.
A further investment of US$ 600 million was needed to make the port truly operational and able to receive large ships. But Sri Lanka had no money. This need and the inability to pay off the loan made the government led by President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe to request China to convert the debt into equity.
But there was opposition to this “debt-equity” swap idea both in Sri Lanka and in China. In Sri Lanka it meant majority ownership of a great and sensitive national asset by a foreign state owned company. And in China, it was against the law to convert debt into equity.
However, repeated pleading by Sri Lankan leaders made their Chinese counterparts relent. By 2016 end, China had agreed to take 80% stake and pay US$ 1 billion for it. But they also wanted and got the port on a lease for 99 years and 15,000 acres of land to develop the hinterland.
But when this “Framework Agreement” was made public, there was a hue and cry from the opposition and the media. Farmers, port employees, politically inspired thugs and even Buddhist monks, rioted in Hambantota. Port workers held up a Japanese vessel for days. The then Ports Minister Arjuna Ranatunga demanded full control over the port and said that the Chinese company should not be given more than 60% of the shares.
Anti-China and security conscious India also put in its two penny bit, and demanded that port security be entirely in the hands of the Sri Lanka navy/SLPA and the Chinese should not be allowed to use the port for military purposes except with Sri Lanka’s permission.
These factors forced the government to approach the Chinese for an amendment. After hard and long negotiations, as Dr. Hu put it, the two parties finally agreed to a 70-30 share division. China also assured that the port would not be used for military purposes.
The revised deal provides for the formation of two companies to split the operations of the port. Sri Lanka will have a majority stake (50.7%) in the Hambantota International Port Services Company (HIPS), which will be in charge of security. And China will run the other company, the Hambantota International Port Group (HIPG), which will be in charge of business. In the latter company CMPort will have 85% stake.
The lease of the port will continue to be for 99 years, but Sri Lanka will have options to buy back shares at predetermined times. One of the options is that the SLPA can purchase all shares at the end of 70 years. All transactions in the port are to take place as per Sri Lankan laws.
http://southasianmonitor.com/2017/0...as-one-belt-one-road-project-port-hambantota/
P K Balachandran, July 30, 2017
Sri Lanka Ports Authority Chairman Parakrama Dissanayake and Executive Vice President of CMport
With the signing of the amended agreement by the Sri Lanka Ports Authority (SLPA) and the China Merchant Port Holdings Company (CMPort) here on Saturday, Sri Lanka has well and truly joined China’s One Road One Belt (OBOR) multi-continental communications project.
With Pakistan, Bangladesh, Nepal and Myamnar also signing up for OBOR, India appears to be isolated and out in the cold in its own backyard.
Speaking at the signing ceremony, the Executive Vice President of the China Merchant Group (CMG), to which CMPort belongs, Dr. Hu Jianhua said: “The agreement will make sure that Hambantota port will achieve its due status as a gateway to the expanding economies of South Asia and the African region where we have similar layouts. With these maritime infra-structure investments, and other diverse investments, such as the proposed international maritime centre, Sri Lanka will be well positioned to play a strategic role in the One–Belt-One-Road initiative of the Government of the People’s Republic of China.”
Hu noted that the Hambantota project is the largest maritime communication project in Sri Lanka, to date. The bold decision to build the port was taken in 2009 when the world was going through an economic crisis. When fully functional, the port will contribute significantly to the economic development of Sri Lanka, he added.
Hu further said that China would bring to the port its established expertise in running ports successfully, just as it did in the case of the Colombo Port’s International Container Terminals. Because of the Chinese built and run Container Terminals, the Colombo Port is one of the 20 top ports in the world, he pointed out.
In answer to the criticism that Chinese companies are only interested in their work and making money the world over, oblivious to the needs of locals, Hu said that as part of its Corporate Social Responsibility, CMPort will have agricultural and health projects in the neighborhood of the port.
In his address, the Sri Lankan Minister of Ports, Mahinda Samarasinghe, said that the agreement on Hambantota will be the harbinger for more Chinese investments in Sri Lanka to enhance the island’s industrial potential. Sri Lanka, he said, is to set up several industrial zones which need Chinese investments.
Samarasinghe profusely thanked the Chinese Ambassador in Sri Lanka, Yi Xiliang, for working “tirelessly” to bring the agreement about in the face of opposition from Sri Lankan nationalists who decried an earlier agreement on the project (in December 2016) as a “sell out” and still continue to subject the government to barbs about ignoring the national interest.
Minister Samarasinghe took pains to explain the improvements made in the amended agreement in relation to the earlier agreements. The amended agreement secures for the Hambantota port, US$ 1.12 billion, in upfront payment from the Chinese partner CMPort, which will enable the SLPA and Sri Lanka to meet their debt repayment obligations.
It also gives the SLPA a 30% stake in the port, in contrast to 20% which was earmarked for it earlier under the December 2016 “Framework Agreement.” CMPort will now get 70% stake and not 80% as granted earlier.
Furthermore, the SLPA would get royalty and dividends. The security of the port would be entirely under the control of the SLPA. Warships could call at the port but only with the express permission of the SLPA and its security committee which will include the Defense Ministry and the Sri Lanka Navy.
Samarasinghe said that as per President Maithripala Sirisena’s suggestion, the amended agreement was placed on the table of parliament for discussion on Friday, but it could not be debated because of a ruckus created by the Opposition.
However, the agreement, as signed on Saturday would be presented to parliament again, because some might charge that it is different from the one presented on Friday, the Minister said.
He also pointed out that the agreement is not cast in stone for all time, and that it can be amended “at any time with the consent of both the parties.”
Finance Minister Mangala Samaraweera said that with the development of the Hambantota port, other districts of southern Sri Lanka will also grow and that economic growth will not be restricted to Colombo district, as has been the case so far.
Opposition
However, a discordant note was struck by the Marxist/ultra nationalist Janatha Vimukthi Peramuna (JVP), whose leader, Anura Kumara Dissanayake, said that the JVP will ask workers in the SLPA to reject the agreement. He said that bunkering should have been kept exclusively with the SLPA as it is a money spinner.
Significantly former Ports Minister Arjuna Ranatunga who has been opposed to the deal, wanting a 60% stake for the SLPA and not 70%, did not attend the signing ceremony.
Controversy
Located near the main shipping route between Asia and Europe, the Hambantota port has been mired in controversy since CM Port built it for US$1.4 billion. The port did not get custom and was running up a huge loss. Other than car carriers which were forced to call at Hambantota, only 19 ships called in 2015; 14 in 2016 and 10 so far in 2017.
According to SLPA Chairman, Parakrama Dissanayake, the port had run up a humongous cumulative loss of LKR 46,711 million and the annual loan repayment was a hefty LKR 9100 million.
A further investment of US$ 600 million was needed to make the port truly operational and able to receive large ships. But Sri Lanka had no money. This need and the inability to pay off the loan made the government led by President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe to request China to convert the debt into equity.
But there was opposition to this “debt-equity” swap idea both in Sri Lanka and in China. In Sri Lanka it meant majority ownership of a great and sensitive national asset by a foreign state owned company. And in China, it was against the law to convert debt into equity.
However, repeated pleading by Sri Lankan leaders made their Chinese counterparts relent. By 2016 end, China had agreed to take 80% stake and pay US$ 1 billion for it. But they also wanted and got the port on a lease for 99 years and 15,000 acres of land to develop the hinterland.
But when this “Framework Agreement” was made public, there was a hue and cry from the opposition and the media. Farmers, port employees, politically inspired thugs and even Buddhist monks, rioted in Hambantota. Port workers held up a Japanese vessel for days. The then Ports Minister Arjuna Ranatunga demanded full control over the port and said that the Chinese company should not be given more than 60% of the shares.
Anti-China and security conscious India also put in its two penny bit, and demanded that port security be entirely in the hands of the Sri Lanka navy/SLPA and the Chinese should not be allowed to use the port for military purposes except with Sri Lanka’s permission.
These factors forced the government to approach the Chinese for an amendment. After hard and long negotiations, as Dr. Hu put it, the two parties finally agreed to a 70-30 share division. China also assured that the port would not be used for military purposes.
The revised deal provides for the formation of two companies to split the operations of the port. Sri Lanka will have a majority stake (50.7%) in the Hambantota International Port Services Company (HIPS), which will be in charge of security. And China will run the other company, the Hambantota International Port Group (HIPG), which will be in charge of business. In the latter company CMPort will have 85% stake.
The lease of the port will continue to be for 99 years, but Sri Lanka will have options to buy back shares at predetermined times. One of the options is that the SLPA can purchase all shares at the end of 70 years. All transactions in the port are to take place as per Sri Lankan laws.
http://southasianmonitor.com/2017/0...as-one-belt-one-road-project-port-hambantota/
RISING SUN
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Sri Lanka motor car registrations rise to 3,221 units in July: JB
Sri Lanka’s motor car registrations rose to 3,221 units in July, up from 2,802 units in June, the highest monthly figure so far this year, JB Securities said in a research note.
Registrations are still down from a high of 14,544 units in September 2015.
‘Overall, brand new motor cars have increased by 17 percent month-on-month. Micro observed growth in the “Panda” car, Renault observed growth in the “KWID” and Tata observed the most significant growth in their “Nano Twist XTA,”’ the note said.
Pre-owned motor cars increased by 13.7 percent month-on-month. Toyota, Suzuki and Honda observed growth in pre-owned registrations.
Premium car registrations have declined from 94 units in June to 65 in July. “Brand new premium cars remained the same with Mercedes Benz leading the way with growth observed in the E-Class.”
Overall weak electric car registrations increased from 13 in June to 17 in July, with Nissan leaf recorded 13 registrations.
Three-wheelers observed a decline by 4.7 percent month-on-month to 1,787 units. Bajaj’s market share dropped from 94.6 percent to 92.1 percent.
Two-wheelers registered 30,226 units in July, a 10 percent increase month-on-month.
The note said, “130cc segment share improved from 79.4% to 80.8%. Honda’s dominant market share increased from 36.5% to 38%. Scooters increased from 14,846 to 17,893 in July, led by growth in Honda.”
Light trucks increased significantly by 55 percent in July to 177 units, while buses grew by 7.7 percent to 205 units, down from a high of 381 in March.
http://www.lankabusinessonline.com/sri-lanka-motor-car-registrations-rise-to-3221-units-in-july-jb/
Sri Lanka’s motor car registrations rose to 3,221 units in July, up from 2,802 units in June, the highest monthly figure so far this year, JB Securities said in a research note.
Registrations are still down from a high of 14,544 units in September 2015.
‘Overall, brand new motor cars have increased by 17 percent month-on-month. Micro observed growth in the “Panda” car, Renault observed growth in the “KWID” and Tata observed the most significant growth in their “Nano Twist XTA,”’ the note said.
Pre-owned motor cars increased by 13.7 percent month-on-month. Toyota, Suzuki and Honda observed growth in pre-owned registrations.
Premium car registrations have declined from 94 units in June to 65 in July. “Brand new premium cars remained the same with Mercedes Benz leading the way with growth observed in the E-Class.”
Overall weak electric car registrations increased from 13 in June to 17 in July, with Nissan leaf recorded 13 registrations.
Three-wheelers observed a decline by 4.7 percent month-on-month to 1,787 units. Bajaj’s market share dropped from 94.6 percent to 92.1 percent.
Two-wheelers registered 30,226 units in July, a 10 percent increase month-on-month.
The note said, “130cc segment share improved from 79.4% to 80.8%. Honda’s dominant market share increased from 36.5% to 38%. Scooters increased from 14,846 to 17,893 in July, led by growth in Honda.”
Light trucks increased significantly by 55 percent in July to 177 units, while buses grew by 7.7 percent to 205 units, down from a high of 381 in March.
http://www.lankabusinessonline.com/sri-lanka-motor-car-registrations-rise-to-3221-units-in-july-jb/
Godman
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Modern travel facilities to city of Colombo
Seven railway lines connecting the City of Colombo with all satellite cities through a light train network and a Central Transport System (CTS) at Pettah will be established with access roads to all express ways, Megapolis and Western Development Minister Patali Champika Ranawaka said.
He added that the reclamation of land from the sea for the Port City was in progress on a rapid pace and ahead of schedule and the first land auction at the Port City will be held next year.
Minister Ranawaka also said a light train system will be established for the convenience of the people in the Colombo City and satellite cities that would record a 6.5% development in the construction sector.
Addressing a ceremony held to mark the opening of the Meegoda – Attygala Road, Minister Ranawaka said the city of Colombo will be subjected to a huge transformation in the next 10 years and the largest number of caterpillars and heavy machinery in South Asia will be used in Colombo on its way to make Colombo the centre of excellence in the region.
“We cannot be satisfied on the progress that has been made during the past couple of years. We have achieved only 4% progress in the service sector and 3.8% in the agricultural sector. Only in the construction sector have we achieved some satisfactory development. But development in the construction sector can be an inducement to other sectors as well,” Minister Ranawaka emphasized.
Minister Ranawaka said the land auction at Port City would become a reality as the Yahapalana government was able to renegotiate the land reclamation agreement with the Chinese with favourable terms. With the new CTS the entire national transport network will be interconnected.
The Megapolis and Western Development Ministry will take measures to ease the traffic congestions in Sri Lanka forever
“The Megapolis and Western Development Ministry will take measures to ease the traffic congestions in Sri Lanka forever and would find a sustainable solution to the solid waste management using the experience it gained by launching the Priority Bus Lanes and the project of Sanitary Land Fills which have been proved a big success,” Minister Ranawaka stressed.
Minister Ranawaka added that an express bus service will also be introduced in 2018 under ‘Priority Bus Lane system to minimize delays in travelling to remote areas of the country.
There were many pessimists who predicted that there were no solutions to the traffic congestion, solid waste disposal and slum problems in the country. But we had proved that they were all wrong and initiated action to find sustainable solutions to all those three serious problems, the Minister said.
“You don’t find rubbish dumps in the city or on roadsides now, traffic congestion on main roads have been drastically reduced and the Megapolis and Western Development Ministry is in the process of constructing 25,000 houses for slum dwellers in the city,” Minister Ranawaka pointed out.
http://www.dailymirror.lk/plus/article/Modern-travel-facilities-to-city-of-Colombo-135626.html
Seven railway lines connecting the City of Colombo with all satellite cities through a light train network and a Central Transport System (CTS) at Pettah will be established with access roads to all express ways, Megapolis and Western Development Minister Patali Champika Ranawaka said.
He added that the reclamation of land from the sea for the Port City was in progress on a rapid pace and ahead of schedule and the first land auction at the Port City will be held next year.
Minister Ranawaka also said a light train system will be established for the convenience of the people in the Colombo City and satellite cities that would record a 6.5% development in the construction sector.
“We cannot be satisfied on the progress that has been made during the past couple of years. We have achieved only 4% progress in the service sector and 3.8% in the agricultural sector. Only in the construction sector have we achieved some satisfactory development. But development in the construction sector can be an inducement to other sectors as well,” Minister Ranawaka emphasized.
Minister Ranawaka said the land auction at Port City would become a reality as the Yahapalana government was able to renegotiate the land reclamation agreement with the Chinese with favourable terms. With the new CTS the entire national transport network will be interconnected.
The Megapolis and Western Development Ministry will take measures to ease the traffic congestions in Sri Lanka forever
“The Megapolis and Western Development Ministry will take measures to ease the traffic congestions in Sri Lanka forever and would find a sustainable solution to the solid waste management using the experience it gained by launching the Priority Bus Lanes and the project of Sanitary Land Fills which have been proved a big success,” Minister Ranawaka stressed.
Minister Ranawaka added that an express bus service will also be introduced in 2018 under ‘Priority Bus Lane system to minimize delays in travelling to remote areas of the country.
There were many pessimists who predicted that there were no solutions to the traffic congestion, solid waste disposal and slum problems in the country. But we had proved that they were all wrong and initiated action to find sustainable solutions to all those three serious problems, the Minister said.
“You don’t find rubbish dumps in the city or on roadsides now, traffic congestion on main roads have been drastically reduced and the Megapolis and Western Development Ministry is in the process of constructing 25,000 houses for slum dwellers in the city,” Minister Ranawaka pointed out.
http://www.dailymirror.lk/plus/article/Modern-travel-facilities-to-city-of-Colombo-135626.html
Bombaywalla
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Krrish to kick off next month
Sri Lanka's long awaited Krrish Square Tower by Indian investors will finally announce their development plan mid-October this year, a senior government official said.
Leading international hospitality brands, Ritz Carlton and JW Marriott will partner up with the Krrish Group for the Krrish Tower project which is a $ 650 million mixed development project at the 4.3 acre Transworks House site in Colombo Fort, sources said.
"Sri Lanka's largest leisure sector project will be unveiled next month, partnering with leading global hospitality brands," the official said.
He further said, "We are having final discussions with the Marriott International, Inc. It's essential to have such big brands in Sri Lanka to promote the real estate and leisure sectors of the country"
It also learnt that Chinese investors too have expressed their interest in partnering with the project.
Ritz Carlton and JW Marriott would manage 200 apartment units each in the proposed project.
The piling of the Krrish Square has been completed and construction has also commenced.
The controversial project recently received government clearance.
Krrish Square is considered the first foreign project by the Krrish Group and set to become the largest Indian investment in Sri Lanka.
The building contract has been awarded to Zhongtian Construction, leading property developer in China for a period of two years. The project will consist of two five-star hotels, two apartment blocks and two office complexes.
Ritz-Carlton operates 87 luxury hotels and resorts in major cities in 29 countries and territories. The hotel chain is presently a subsidiary of Marriott International.
source: http://www.ceylontoday.lk/print20170401CT20170630.php?id=29036
Sri Lanka's long awaited Krrish Square Tower by Indian investors will finally announce their development plan mid-October this year, a senior government official said.
Leading international hospitality brands, Ritz Carlton and JW Marriott will partner up with the Krrish Group for the Krrish Tower project which is a $ 650 million mixed development project at the 4.3 acre Transworks House site in Colombo Fort, sources said.
"Sri Lanka's largest leisure sector project will be unveiled next month, partnering with leading global hospitality brands," the official said.
He further said, "We are having final discussions with the Marriott International, Inc. It's essential to have such big brands in Sri Lanka to promote the real estate and leisure sectors of the country"
It also learnt that Chinese investors too have expressed their interest in partnering with the project.
Ritz Carlton and JW Marriott would manage 200 apartment units each in the proposed project.
The piling of the Krrish Square has been completed and construction has also commenced.
The controversial project recently received government clearance.
Krrish Square is considered the first foreign project by the Krrish Group and set to become the largest Indian investment in Sri Lanka.
The building contract has been awarded to Zhongtian Construction, leading property developer in China for a period of two years. The project will consist of two five-star hotels, two apartment blocks and two office complexes.
Ritz-Carlton operates 87 luxury hotels and resorts in major cities in 29 countries and territories. The hotel chain is presently a subsidiary of Marriott International.
source: http://www.ceylontoday.lk/print20170401CT20170630.php?id=29036
Gibbs
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Andhra Pradesh to set up industrial corridor in SL
2017-09-22 16:34:50
The Andhra Pradesh (AP) Government of India is contemplating to develop an industrial corridor in Sri Lanka, the Indian Express reported yesterday.
It said AP Industries Minister N. Amarnath Reddy and the officials have already conducted talks with the Sri Lankan government for making the project fruitful.
Official sources had said that a Memorandum of Understanding (MOU) will be signed with the Sri Lankan government in a few weeks.
Officials has also said Sri Lanka is the best bet for AP for conducting trade in sea foods, pharma and tourism sectors as Sri Lanka is convenient for water transport.
The news report said the Sri Lankan government may allocate land to the AP government in Jaffna or Trincomalee.
The Sri Lankan government is also planning to invest in AP in the textile and aviation sectors through a mutual trade agreement.
“The MoU will be signed shortly for implementing the AP special economic zone in Sri Lanka. There are good opportunities to invest in pharma and tourism sectors in Sri Lanka,” Industries Minister Reddy said.
http://www.dailymirror.lk/137145/Andhra-Pradesh-to-set-up-industrial-corridor-in-SL?
@Bombaywalla @Nilgiri
As i understand Sri Lanka already has considerable investments in Andra already in Textile and manufacturing sectors
http://www.brandix.com/brandix/biac.php
2017-09-22 16:34:50
The Andhra Pradesh (AP) Government of India is contemplating to develop an industrial corridor in Sri Lanka, the Indian Express reported yesterday.
It said AP Industries Minister N. Amarnath Reddy and the officials have already conducted talks with the Sri Lankan government for making the project fruitful.
Official sources had said that a Memorandum of Understanding (MOU) will be signed with the Sri Lankan government in a few weeks.
Officials has also said Sri Lanka is the best bet for AP for conducting trade in sea foods, pharma and tourism sectors as Sri Lanka is convenient for water transport.
The news report said the Sri Lankan government may allocate land to the AP government in Jaffna or Trincomalee.
The Sri Lankan government is also planning to invest in AP in the textile and aviation sectors through a mutual trade agreement.
“The MoU will be signed shortly for implementing the AP special economic zone in Sri Lanka. There are good opportunities to invest in pharma and tourism sectors in Sri Lanka,” Industries Minister Reddy said.
http://www.dailymirror.lk/137145/Andhra-Pradesh-to-set-up-industrial-corridor-in-SL?
@Bombaywalla @Nilgiri
As i understand Sri Lanka already has considerable investments in Andra already in Textile and manufacturing sectors
http://www.brandix.com/brandix/biac.php
Godman
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Andhra Pradesh to set up industrial corridor in SL
2017-09-22 16:34:50
The Andhra Pradesh (AP) Government of India is contemplating to develop an industrial corridor in Sri Lanka, the Indian Express reported yesterday.
It said AP Industries Minister N. Amarnath Reddy and the officials have already conducted talks with the Sri Lankan government for making the project fruitful.
Official sources had said that a Memorandum of Understanding (MOU) will be signed with the Sri Lankan government in a few weeks.
Officials has also said Sri Lanka is the best bet for AP for conducting trade in sea foods, pharma and tourism sectors as Sri Lanka is convenient for water transport.
The news report said the Sri Lankan government may allocate land to the AP government in Jaffna or Trincomalee.
The Sri Lankan government is also planning to invest in AP in the textile and aviation sectors through a mutual trade agreement.
“The MoU will be signed shortly for implementing the AP special economic zone in Sri Lanka. There are good opportunities to invest in pharma and tourism sectors in Sri Lanka,” Industries Minister Reddy said.
http://www.dailymirror.lk/137145/Andhra-Pradesh-to-set-up-industrial-corridor-in-SL?
@Bombaywalla @Nilgiri
As i understand Sri Lanka already has considerable investments in Andra already in Textile and manufacturing sectors
http://www.brandix.com/brandix/biac.php
AP and SL have very close and fast improving relations . Ties with also TN have potential but the excessive use of ethnic politics by TN politicians ruin a lot of things that could benefit both sides.
Nilgiri
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AP and SL have very close and fast improving relations . Ties with also TN have potential but the excessive use of ethnic politics by TN politicians ruin a lot of things that could benefit both sides.
Give it some time with TN. Egos run very deep among us. I go back there and still see its strong as ever and am saddened. When I point it out, I get labelled in such ways I dare not to repeat (and you never know where a goon is lurking, ready to harm not you but those you care about after you gone). Something is truly rotten in the state of TN to quote Shakespeare.
There will only be the start of some change when a non-TN based party comes to power there (and instrumentally does better in realised economic/development action than the goon collection 1 and goon collection 2)...right now the evil-doers have instrumentally succeeded in lumping in all kinds of things with their perspective of Tamil identity.
RISING SUN
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Asian Development Bank approves $50 million loan to boost rooftop solar in Sri Lanka
The Asian Development Bank (ADB) has approved a $50 million loan to aid the funding of rooftop solar power generation systems in Sri Lanka, it was announced Wednesday.
The ADB said its Rooftop Solar Power Generation Project would increase access to "clean and reliable power" in the country.
The project would finance rooftop solar power subprojects equivalent to 50 megawatts of additional capacity, the ADB added. It has been approved by the bank's board of directors and is set to cost a total of $59.8 million, with the private sector providing an equity contribution of $9.8 million.
"Sri Lanka's energy sector has made tremendous progress over the last two and a half decades in bringing electricity to almost everyone in the country," Mukhtor Khamudkhanov, a principal energy specialist at the ADB, said in a statement. "But there is a need to diversify the country's energy mix toward more renewable and sustainable sources," he added.
The ADB said it would also administer $1 million in technical assistance from the Asian Clean Energy Fund under the Clean Energy Financing Partnership Facility. This would be used, among other things, to help build capacity and support the implementation of the project in Sri Lanka.
Elsewhere in the renewable energy sector, Siemens Gamesa said it has been mandated to develop the first large, commercial hybrid wind-solar project in India. In an announcement Tuesday, the business said the project would involve a 28.8 megawatt solar facility being connected to an existing 50 megawatt wind farm.
Siemens Gamesa said it would be responsible for the design, engineering and commissioning of the new solar plant, as well as its "hybridization" with the existing wind farm. The project is set to come online by the end of this year, and will be located in the state of Karnataka.
https://www.cnbc.com/2017/09/27/asi...loan-to-boost-rooftop-solar-in-sri-lanka.html
The Asian Development Bank (ADB) has approved a $50 million loan to aid the funding of rooftop solar power generation systems in Sri Lanka, it was announced Wednesday.
The ADB said its Rooftop Solar Power Generation Project would increase access to "clean and reliable power" in the country.
The project would finance rooftop solar power subprojects equivalent to 50 megawatts of additional capacity, the ADB added. It has been approved by the bank's board of directors and is set to cost a total of $59.8 million, with the private sector providing an equity contribution of $9.8 million.
"Sri Lanka's energy sector has made tremendous progress over the last two and a half decades in bringing electricity to almost everyone in the country," Mukhtor Khamudkhanov, a principal energy specialist at the ADB, said in a statement. "But there is a need to diversify the country's energy mix toward more renewable and sustainable sources," he added.
The ADB said it would also administer $1 million in technical assistance from the Asian Clean Energy Fund under the Clean Energy Financing Partnership Facility. This would be used, among other things, to help build capacity and support the implementation of the project in Sri Lanka.
Elsewhere in the renewable energy sector, Siemens Gamesa said it has been mandated to develop the first large, commercial hybrid wind-solar project in India. In an announcement Tuesday, the business said the project would involve a 28.8 megawatt solar facility being connected to an existing 50 megawatt wind farm.
Siemens Gamesa said it would be responsible for the design, engineering and commissioning of the new solar plant, as well as its "hybridization" with the existing wind farm. The project is set to come online by the end of this year, and will be located in the state of Karnataka.
https://www.cnbc.com/2017/09/27/asi...loan-to-boost-rooftop-solar-in-sri-lanka.html
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