India extends credit for Kankesanthurai harbour
India has extended a $45.27m credit line to make Kankesanthurai (KKS) Port in northern Sri Lanka a viable commercial port, India’s Export-Import (Exim) Bank said in a press statement.
India’s Ports and Shipping Ministry believes rehabilitating KKS Port will encourage trade, both domestic and regionally, by promoting shipping links.
“The fresh assistance of $45.27m would be used for the remaining two phases involving works relating to the rehabilitation of the breakwater and existing pier,” Exim’s statement said.
“Construction of a new pier for commercial cargo handling, installation of port infrastructure facilities will also be undertaken under this credit line facility,” it added.
The Sri Lanka Ports Authority supervised by India’s Ports and Shipping Ministry will implement the project.
Four previous phases including preliminary hydrographic survey, geotechnical investigation, preparation of a detailed project report and wreck removal and disposal dredging have already been completed with grants from the Indian government.
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