Category: Industry
Wave Tech
July 11, 2012 (LBO) – A 5.4 kilometre new breakwater at Sri Lanka’s Colombo port is armoured with 20 tonne patented concrete blocks to withstand the worst monsoons in 200 years, an official said. Three new container terminals which are schedule to be built up to 2020 are coming up within a new 375 million […]
Human Capital
July 11, 2012 (LBO) – Sri Lanka’s shipping industry will need more trained workers specializing in key areas of the shipping business as the island treads a path to become a regional logistics hub, an industry official said. The new Colombo port is expected to increase annual capacity to 13 million containers from the current […]
Sri Lanka hydro power gets brief boost
July 10, 2012 (LBO) – Sri Lanka’s hydro storage rose 30.4 GigaWatt hours to 319.1 GWh after strong showers on July 09 brought inflows mostly into small ponds in the Kelani River complex. According Sri Lanka’s state-run Ceylon Electricity Board data total hyrdo storage slipped to 288.7 GWh (millions of units) on Sunday, after slipping […]
Credit View
July 10, 2012 (LBO) – Ram Ratings Lanka has downgraded the Bimputh Lanka Investments Plc, from ‘BB’ to ‘BB-‘ after a related sugar mill was expropriated by the state last year. “The downgrade reflects the loss of financial and operational synergies derived from Sevanagala Sugar Industries (Pvt) Ltd, previously one of Bimputh’s significant counterparties.,” RAM […]
Pow Wow
July 09, 2012 (LBO) – A two day sea trade conference aimed at examining Sri Lankan’s maritime infrastructure and positioning the island as a transshipment logistic hub will kicks off Tuesday in Colombo. Sessions will also analyze and review major maritime development projects in Sri Lanka, look at attracting investments for maritime projects and oil […]
Port City
July 10, 2012 (LBO) – Sri Lanka is expecting 15 billion US dollars of investments to pour into a ‘port city’ on reclaimed beachfront land bordering the island’s main port in Colombo, during the next 10 years, an official said. Reclamation of the 243 acre site is set to begin in October and is expected […]
Port Industries
July 10, 2012 (LBO) – Sri Lanka’s state-run ports agency is targeting a billion US dollars of investment at the southern Hambantota Port in a request for proposals that is closing in August 2012, an official said. The Chinese finance port is positioned as an industrial port with transshipping via roll-on-roll off vessels, entrepot trade […]
Trinco Projects
July 10, 2012 (LBO) – Sri Lanka’s state-run ports agency is evaluating nine proposals from nine investors to build industries near the northeastern port of Trincomalee, chairman Priyath Wickrema said. Sri Lanka’s Hambantota port has already received about 800 million US dollars of investments and a second investment round where bids are closing on August […]
Credit Trend
July 09, 2012 (LBO) – Credit to the state from Sri Lanka’s banking system eased in May 2012 and loans to business were back at levels seen before the Central Bank began to sterilize foreign exchange sales last year, official data show. Credit to private sector rose 36.1 billion rupees in May 2012 to 2,215 […]
‘s ITC hotel
July 8, 2012 (LBO) – A mixed property project including a hotel in Sri Lanka’s capital Colombo by India’s ITC has been given sweeping tax breaks under the island’s strategic investment law, a government notice said. Welcome Hotels Lanka (Pvt) Ltd, a newly incorporated ITC unit in Sri Lanka has already paid 73. 5 million […]
Sri Lanka state airlines get Rs2.38bn handout
July 08, 2012 (LBO) – Sri Lanka’s loss-making state-run airlines have been given 2. 28 billion rupees in tax payer money during the first half of 2012, a mid -year fiscal report has revealed. Mihin Lanka on the other hand had made a net profit before interest of 2. 0 billion rupees and had finance […]
Sri Lanka on business traveller map says Colombo hotel
July 07, 2012 (LBO) – Cinnamon Lakeside, a hotel in Sri Lanka’s John Keells group had won an award from a UK-based business travel publication, giving international recognition to high industry standards, officials said. ‘Business Destinations’, a magazine targeted at corporate buyers and travel professionals, had named Cinnamon Lakeside the best luxury hotel in Sri […]