SL not interested in investing in Indian ports-India

10 December 2012 10:18 am - 2 - {{hitsCtrl.values.hits}}

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Sri Lanka has not evinced interest in investing in the Indian port sector, Parliament was informed today.

"The government of Sri Lanka has not approached the (Indian) government indicating interest in investing in Port Projects in India," Shipping Minister G K Vasan said in a written reply in Lok Sabha today.

He said that the government allows 100 per cent Foreign Direct Investment ( FDI) for construction and maintenance of ports and harbours.

"The government has been encouraging private sector participation in port development since 1996 mainly on Build, Operate and Transfer basis with revenue sharing mechanism to augment and upgrade the capacity at Indian Ports," Vasan added.

Meanwhile, India has gifted 175 boats with outboard motors and fishing equipment worth 71 million Sri Lankan rupees to people in Mannar, the country's former war zone.

Indian High Commissioner to Sri Lanka Ashok K Kantha had visited Mannar earlier this month in this connection.

The Indian envoy had expressed hope that the ferry service between Talaimannar and Rameswaram would be resumed soon and that the Indian government was in favour of early resumption of the ferry service and prepared to work with the government of Sri Lanka in this regard. (The Times of India)

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Comments - 2

Thomas Monday, 10 December 2012 10:41 AM

Sri Lanka is inviting countries like India, China to invest and develop Sri Lankan ports. Already Chaina has invested their funds in Hambantota port. Mr.Vasan you are welcome.

manpei Monday, 10 December 2012 11:15 PM

We have money to invest in Indian port projects?

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SL not interested in investing in Indian ports-India

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