Category: Logistics
Korean Government approves USD200mn for Kandy tunnel
June 06, 2017 (LBO) – The Ministry of Strategy and Finance of Korea has approved 200 million US dollars for the Kandy tunnel construction project, Korean Embassy in Sri Lanka announced. The project comprises of four tunnels with a total length of 5.5km from Suduhumpola to Tennekumbura via Bogambara and Ampitiya which will be the […]
Sri Lanka Railways to collect land lease arrears of Rs1.4bn
June 05, 2017 (LBO) – Sri Lanka’s state-owned Railways Department said 1.46 billion rupees is yet to be collected as lease arrears for land owned by the department. The Railways Department manages nearly 13,000 acres of land, of which 1,934 acres have been leased out to 6,400 users, as this land is not necessary for […]
Indian ships arrive in Sri Lanka with flood relief, China pledges USD2.2Mn
May 29, 2017 (LBO) – Sri Lanka’s monsoon death toll rose to 164 with another 88 listed as missing as Indian ships arrived with relief supplies and China pledged US 2.2 million dollars in disaster aid. The Indian navy ships INS Kirsh and INS Shardul have already reached the Colombo port over the week-end with […]
Rain and fire threatens Meethotamulla, rehabilitation plans in place
Apr 27, 2017 (LBO) – Rains expected in May and an outbreak of fire still remain as threats to the hundreds of tonnes of rotting garbage piled up near Sri Lanka’s capital, with rehabilitation of the dump now in progress, a minister said. “What we are doing now is taking measures to control further collapses […]
Sri Lanka’s JVP demands President reveals Hambantota port agreement
Dec 27, 2016 (LBO) – Sri Lanka’s Marxist JVP today insisted the President should reveal the Hambantota port agreement to the country before signing the agreement with China. Writing a letter to the President, JVP Parliamentarian and COPE Chairman Sunil Handunnetti said their party is strongly against what they called ‘selling’ the port which is […]
‘s prospects for LNG investment high, especially from Japan: advisory firm
Nov 16, 2016 (LBO) – Sri Lanka’s prospects for attracting investments in LNG, power plants, and natural gas infrastructure are good, especially if the island looks towards Japan, a global advisory firm said. Sri Lanka enjoys “Comprehensive Partnership” status with Japan, supported by close ties between Prime Minister Ranil Wickremesinghe and Japanese Premier Shinzo Abe, […]
Interview: Strength of potential partners key to LNG negotiations, says PRDS DG
Nov 08, 2016 (LBO) – The reputation and financial strength of potential partners is key to developing Sri Lanka’s LNG infrastructure, according to the head of the Petroleum Resources Development Secretariat (PRDS). “Introducing a new energy form of LNG and building up end-user dependency on it requires a low-risk approach to supply assurance,” Saliya Wickramasuriya, […]
USD1 bln expected from Hambantota port sale: CB Governor
Nov 02, 2016 (LBO) – Sri Lanka could expect a one billion dollar inflow to the economy in about five months time through the sale of a stake in the Hambantota Port, the Central Bank Governor said on Tuesday. The equity proceeds of a sale of an 80 percent stake to a Chinese investor could […]
First blockchain trade in cotton from Texas to China
Oct 24, 2016 (LBO) – Australia’s Commonwealth Bank and Wells Fargo have used blockchain, the technology behind the digital currency bitcoin that can secure financial transactions, in the first global trade transaction involving a shipment of cotton. The shipment of cotton was from Texas to Qingdao in China — the trade involved an open account […]
Expo paves way for faster subcontinent cross border logistics
Oct 10, 2016 (LBO) – Expo Freight says it has achieved a significant milestone in cross border trade in the Indian subcontinent after a shipment for Marks & Spencer crossed over seamlessly to India from Bangladesh, following a trading agreement. This is the first occasion a truck carrying cargo was allowed to cross over to […]
JICA to help plan Kandy development with UDA
Oct 10, 2016 (LBO) – The Urban Development Authority of Sri Lanka and Japan International Cooperation Agency (JICA) will enter into technical cooperation to formulate the urban development environment of Kandy. JICA will support with detailed urban plans, urban design guidelines, regulations to protect heritage city areas, sustainable systems and strategic investment proposals to implement […]
Infrastructure: Friction free inter-agency cooperation key, says PUCSL DG
Sep 26, 2016 (LBO) – Sri Lanka needs mechanisms and skills to manage multiple agency involvement in order to ensure the proper and timely implementation of its planned mega infrastructure projects, a senior official said. “There is multiple agency involvement in managing infrastructure projects. We have implementation agencies involvement like land, environment, regulatory and local […]