Press briefing of Cabinet Decision taken on 2021-10-18

Revision of the Policy of permitting only one Heavy Industry of a kind in One Sea Port

- The policy of permitting only one Heavy Industry of a kind in One Sea Port is in force. The Trincomalee Port Development Plan has been prepared to develop as a hub port in the Bay of Bengal Rim Region along with the accelerated economic growth in Bangladesh, East Coast of India, Myanmar and Sri Lanka. In planning the said Plan, matters such as natural location of the Trincomalee Port, the land in the extent of 2,000 acres closer to the Port belonging to the Ports Authority and the existing infrastructure facilities for the supply of services to the said Port have been taken into consideration. Further, with a view to developing the Port, it has been identified that it would be appropriate to provide opportunities to investors for establishing industries without imposing special limitations. Accordingly, in view of attracting investors showing an interest to commence Port related Heavy Industries, the proposal made by the Minister of Ports & Shipping to revise the existing policy of one Heavy Industry of a kind in One Sea Port, was approved by the Cabinet.