Sri Lanka : Projects signed with India last year will be expedited

Sri Lankan Government has said that projects coming under the Memorandum of Understanding (MoU), signed with India last year will be expedited.

Country’s Ports and Shipping Minister Mahinda Samarasinghe told a press conference today that respective Ministries should now present proposals seeking cabinet approval to embark on those projects.

The MoU contains investment proposals by Indian companies for LNG terminal and power, port development at Colombo harbor, highways and railways etc.

The minister comments came after Sri Lankan Prime Minister visit to India last week and his meeting with Prime Minister Narendra Modi.

A press release issued by Sri Lankan Prime Minister had said that Prime Minister Modi expressed India’s dissatisfaction over the delay in commencing some of the projects in the MoU.

Samarsinghe asserted that most of these projects are expected to be completed by early next year.

He also added that Western terminal of Colombo port will be offered to Indian company for development.