Press briefing of Cabinet Decision taken on 2011-02-23

Memorandum of Understanding to conduct a feasibility study to develop a special zone for heavy industry in Trincomalee

- there is a growing enthusiasm for private foreign investment in infrastructure development after the dawn of peace in the country. One such proposal is to construct an industrial zone at Sampur in the Trincomalee District by a multinational consortium from Australia with partners from Brazil. The proposed industries to be located in this zone include Coke Plant, Iron Ore Palletizing Plant, Manufacturing Plant and Machinery, Sugar Refinery etc. Investment for Phase I of the project will be US $700 million. On the proposal made by H.E. the President on the recommendation of the Cabinet Appointed Review Committee, Cabinet approval was granted for the Consortium to conduct feasibility studies and submit their reports. The feasibility of the project proposals will be examined by a Special Committee comprising of Senior Public Officers.