28 Aug 2017
SRI LANKA: Manufacturing-Focussed Industrial Park in Western Province Gets Official Greenlight
In a bid to attract more FDI into the country, Sri Lanka’s government has unveiled plans to develop an Industrial Park (IP) for the manufacturing sector in the Kalutara district of Western Province. Expected to be completed by December 2018, the IP will initially focus on manufacturing of television sets and other electronic home appliances before expanding to other sectors, including auto parts.
The government will build the infrastructure facilities for the project, which will be implemented on a 250-acre area in the first phase and a further 150-acre in the second phase. The IP will be operated on a 50-year lease by a Thai developer, which is a joint‑venture between a Thai entity and a Japanese company. The government expects to attract at least US$500 million in FDI in the first phase of the project.