Twelve leading local and foreign companies have lined up to invest in mass scale production facilities in the industrial city that is being developed adjacent to the Hambantota Ruhunu Magampura Port, Sri Lanka Ports Authority Chairman Dr. Wickrama said.
The Chairman, addressing a port and shipping seminar recently told that these 12 companies have agreed to bring in US$ 1.55 billion as investment for these ventures.
The Chinese funded and built Port in the deep South has allocated 529 hectares for the industrial city. The Port has been made a Free Port that enables duty free import and re-exports after value addition.
To establish port-related businesses within the Hambantota Port premises, the SLPA successfully floated a Request for Proposal (RFP) scheme in 2012.
The Hambantota port, which is a service and industrial port, has a clear advantage over many ports in the region due to its strategic location along the east-west shipping route as well as a free port in the region, he added.