India Inc eyeing Sri Lanka for projects

Deputy Chairman Planning Commission Montek Singh Ahluwalia and Venugopal Dhoot, President ASSOCHAM releasing an analysis report on current Inflation in India during a lunchon talk on "India Inc-Vision 2008", in New Delhi. File photo: Rajeev Bhatt

A host of Indian companies are planning to develop projects across sectors in the island nation of Sri Lanka.

The companies have already identified the land and besides, have also received approval from the Sri Lankan Government for their projects.

“Larsen and Toubro (L&T) is constructing a commercial complex here and the total cost of the project will be USD 50—million,” Sri Lanka Board of Investment’s Director, C. Ignatius, told PTI here.

The company has already acquired the land for the project and it is expected to be completed by next year, Mr. Ignatius said.

The engineering and construction major has already developed projects in Sri Lanka such as a 26-storey residential apartment at Colombo, design and construction of urea storage silo for a fertilizer complex and design, test, manufacture and supply of 33kV, 132kV and 220kV transmission line towers for Sri Lanka’s electricity board.

A Bangalore-based commercial and residential property developer, Girish Puravankara-run Lalith Gangadhar Constructions Limited, is also constructing residential villas outside Colombo, he said.