Sri Lanka Brodcasting Corporation

Tue05222018

Last updateSun, 20 May 2018 2pm

Business News

The Kankasanthurai Harbour to be upgraded as a ‘Commercial Port’.

The Government of India has come forward to rehabilitate and upgrade the Kankesanthurai Harbour, into a ‘Commercial Port’, at a cost of 45.27 million US dollars. The Ministry of Finance says, this will help to further strengthen the country’s effort to become a regional maritime hub, in the near future.

During the last few years Indian foreign direct investment in Sri Lanka has expanded exceptionally. Presently Indian development assistance mainly focuses on the improvement of economic infrastructural facilities, livelihood development, education, healthcare, capacity building and the economic renewal of Sri Lanka.

The Ministry of Ports and Shipping has observed that the rehabilitation of the Kankesanthurai Harbour would contribute to promote traditional commercial linkages and give an incentive to economic activities, by encouraging trade in northern Sri Lanka.

Kankesanthurai will be the nearest port for all eastern ports in India, as well as for Myanmar and Bangladesh.

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