- Sri Lanka plans to develop Trincomalee port into an industrial hub that would spark global interest.
- The proposal is a long-standing plan to monetise land that belongs to the Sri Lanka Port Authority, by getting foreign and local investment for a special economic zone, an industrial park, or an energy hub.
Trincomalee Port:
- Trincomalee harbour is on the northeastern coast of Sri Lanka. It is situated on a peninsula in Trincomalee Bay—formerly called Koddiyar Bay.
- Trincomalee is the nearest port to Chennai, India.
- The location of this port in Indian ocean has strategic significance, it has been of interest to several countries, including India, Japan and the US.
- Japan commissioned the 2020 ADB (Asian Development Bank) study on the development of Trincomalee port.
- Trincomalee already has several dedicated port terminals —it has Lanka Indian Oil Company facility, Tokyo Cement facility, and grain facility for a flour factory, and a tea terminal.
- There is also a jetty for bulk cargo such as coal, gypsum and cement.
- This development will decongest and help in offloading operations at Colombo Port which will increase the supply chain.
- This would also entail the development of the port for non-containerised cargo traffic, such as cement, coal or other industrial raw material.
SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT