Cleveland Bridge UK Ltd. signed a contact with the Ministry of Economic Development in Sri Lanka to provide up to 210 bridges in rural locations island-wide including the North and East. The project, worth US$ 56 million, will be backed by the UK Government’s Export Credit Guarantee Department (ECGD). ...
A Royal visit took place in Sri Lanka recently with the arrival of Prince Michael of Kent. Prince Michael was accompanied by Princess Michael during the tour in Sri Lanka. They were here on a private visit which paved the way for them visit a few tourist attractions in Sri Lanka. Among the places they visited in Sri Lanka was ...
The Sri Lanka Transport Board has decided to commence a super luxury bus service on major approach roads to Metropolitan City of Colombo. The CTB on a proposal by Transport Minister Kumara Welgama is to buy 25 super luxury buses to be deployed in the service. It is expected to minimize the traffic congestion on major highways approaching Colombo City. ...
Releasing the Global Competitiveness Report (GCR) for 2011-2012, World Economic Forum (WEF) yesterday said that Sri Lanka has made an impressive jump of 10 places in the rankings to 52nd place from the 62nd in the previous year. In the 2009-2010, Sri Lanka was ranked 79th position. The Institute of Policy Studies of Sri Lanka (IPS) ...
The rapidly developing Northern Province following the defeat of terrorism has become a springboard for local and foreign investors seeking investment opportunities in Sri Lanka. Construction of a 70-room, 15 storied star class hotel in the heart of Jaffna will be launched tomorrow. Mercantile Merchant Bank Ltd, and the Jetwing Group through an equally-owned joint venture will invest Rs. 700 ...
Deputy Minister of Highways Nirmala Kotalawala stated that the Government has decided to extend the Southern highway to Hambantota and as such a feasibility study is being done in this regard.The Deputy Minister said that the country's first highway from Kottawa to Galle is expected to be extended upto Matara under the second phase which ...
Cairn Lanka, the Indian oil company carrying out oil exploration in the Mannar Basin has begun drilling a second exploration well after the first effort found evidence of gas deposits. In its first well, CLPL-Dorado-91H/1z, Cairn has found a 25 meter hydrocarbon deposit at a depth of 3,000 meters. It has now started work on CLPL-Barracuda-1G/1, a second well. It ...
The Ministry of State Resources and Enterprise Development has taken steps to reconstruct the Paranthan Chemical Industry in a 217 acre plot of land. The factory was completely destroyed by the terrorists during the time of humanitarian operation.A Project Report estimates that it would require Rs.3 Billion for the re-establishment of the factory in Paranthan. Investors from India, Ireland and ...
A team of Malaysian businessmen and investors will arrive in Sri Lanka next month to explore bilateral trade and investment opportunities. The Malaysian High Commissioner in Sri Lanka Azmi Zainuddin said that Malaysia will lead a special marketing mission to Sri Lanka from May 27 - 30,2012 to determine bilateral trade and investment opportunities in Sri Lanka. Presenting a seminar ...
The newly constructed business complex for pavement hawkers in Nugegoda town will be declared open by Minister Basil Rajapaksa today. The Ministry of Economic Development has spent a sum of 80 million rupees for this project.This project is being implemented under the government programme helping the self employed and making pavements in the cities convenient places for ...
Sri Lankan President Mahinda Rajapaksa yesterday announced that the ongoing exploration work in the offshore Mannar Basin has found the existence of a gas deposit in the area.He made this announcement when he addressed a political rally in the Central hills.Meanwhile Cairn India Limited, the firm who is carrying out the exploration wor
