financetom
Business
financetom
/
Business
/
Sri Lanka to construct third international airport
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Sri Lanka to construct third international airport
Jul 12, 2018 7:02 AM

The Sri Lankan government is planning to construct a third international airport in Trincomalee in a bid to make the district the 'Eastern Gateway into the Bay of Bengal', authorities said on Thursday.

"When you look back at Sri Lanka's history, we were a hub in the Indian Ocean where there were several ports," Prime Minister Ranil Wickremesinghe said while unveiling the project.

"Countries in the Bay of Bengal region will fast develop within the next 20 years. By 2050 the population in this region is expected to reach three billion. Therefore, we have to consider Trincomalee as the Eastern Gateway," Xinhua news agency quoted Wickremesinghe as saying.

Jaffna province was also next in line to see major development plans, he added.

Under the plan, Trincomalee would be converted into an export hub by creating a clean industrial ecosystem, which can add value to the already abundant agriculture, aquaculture, minerals and resources in its hinterland.

It would also be re-positioned as the Eastern Tourism Hub and made into an eastern logistics centre

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Exclusive-Aircraft leasing giant calls on Trump to expand zero-tariff plane pact
Exclusive-Aircraft leasing giant calls on Trump to expand zero-tariff plane pact
May 28, 2025
PARIS/WASHINGTON (Reuters) -The head of the world's largest aircraft leasing company has called on U.S. President Donald Trump to renegotiate and expand a duty-free trade agreement for the aircraft industry to include newcomers like China in a new lobbying twist to the trade war. The aerospace industry has for weeks been pushing for exemptions to tariffs introduced by Trump, or...
Huntsman to Shutter German Maleic Anhydride Facility
Huntsman to Shutter German Maleic Anhydride Facility
May 28, 2025
05:30 AM EDT, 05/28/2025 (MT Newswires) -- Huntsman (HUN) said Wednesday it will close its maleic anhydride facility in Moers, Germany, following the completion of a strategic review of the business in Europe. The company expects the closure of the operations to be complete by the end of the ongoing quarter. Huntsman said it expects to incur a roughly $75...
Factbox-Sales, China and US tariffs: challenges for new Stellantis boss
Factbox-Sales, China and US tariffs: challenges for new Stellantis boss
May 28, 2025
MILAN (Reuters) -Antonio Filosa was appointed chief executive of automaker Stellantis ( STLA ) on Wednesday, following the departure of Carlos Tavares in December. Here are some the main challenges he faces. REGAIN MARKET SHARE The first task will be to revive sales at Stellantis ( STLA ), the world's No. 4 automaker by sales, which has lost market share...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved