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TRINCOMALEE IN THREE-PHASE DEVELOPMENT
Sri Lanka Ports Authority (SLPA) has announced a three-part strategy to redevelop South Asias largest natural harbour at Trincomalee. Available land will be divided into three distinct zones. One of these will be used for leisure development while a second is earmarked for use as an industrial park, providing space for warehouses, oil tanks and other port activities. The third will be required to re-house families evicted from other port land.
Issued in July, the bonds are in S$250,000 (US$151,000) denominations. Three-year bonds will bear interest at the six-month Singapore dollar swap offer rate less 0.06% per annum, and 10-year bonds will earn 2.83% interest per annum, both payable semi-annually.
Trincomalee port currently totals 500 acres of land, of which only 20% has been developed to date.
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