Korea mulls foray into Sampur zone | Daily News

Korea mulls foray into Sampur zone

Minister Sujeewa Senasinghe. Pic by Gayan Pushpika

The Korean government has expressed its consent to invest in the proposed heavy industrial zone in Sampur, Trincomalee, International Trade State Minister Sujeewa Senasinghe said.

He affirmed that the government of Sri Lanka has already received several investment proposals from prospective investors relating to the development activities of the zone.

These proposals are being studied and reviewed by a panel of local and foreign experts. The total project value of the Sampur project is estimated to be around US$ 1,500 million. The project is expected to provide 40,000 job opportunities.

In addition, several other investment proposals relating to oil refinery, solar and wind power generation activities have also been received and these proposals are currently being reviewed by a panel of experts.

The government also plans to enter into strategic trade partnership agreements with Singapore, China and India in the near future to take the local export industries to the next level.

It will be looking at possibilities to ink several other trade agreements with EU,the USA and African countries to better reap trade, investment opportunities , raise standards, value addition and local know-how of the local export industries.

Immediate measures will be taken to convert the Mattala Airport and the Hambantota Port into profit making entities. The government has sought the support of Qatar Airways and several other airlines to present investment proposals to help revive Mattala Airport operations.

The government will be obtaining technical know-how and the investment support of foreign investors to commence manufacturing activities here.

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