The Hambantota International Port (HIP) experienced a remarkable 40% increase in the handling of roll-on/roll-off (RORO) vehicles between the second and third quarters of 2024, driven by a resurgence in global shipping activity. By the end of September, the port processed 175,583 units, up from 125,526 units in the previous quarter. This surge was attributed
As Sri Lanka approaches the completion of its debt restructuring process, optimism is rising for the resumption of long-stalled development initiatives. Eleven Japanese-funded projects, previously halted due to the country’s economic and political turmoil, are set to restart. Economists stress that while ongoing projects will be reinstated, any new ventures will depend on Sri Lanka’s
Hayleys Fentons, Sri Lanka’s leading company in mechanical, electrical, and plumbing services, has partnered with Advantis 3PL Plus to upgrade the fire protection and detection systems at Advantis Logistics City. This installation covers a warehouse, a 2,800-square-metre mezzanine area, and an additional 8,300 square metres of storage space. This project marks a key development in
A $1.5 billion Light Rail Transit (LRT) project, previously canceled unilaterally by former Sri Lankan leader Gotabaya Rajapaksa, may be considered as a potential future project, according to Japanese Ambassador to Sri Lanka Mizukoshi Hideaki. Japan recently announced the resumption of 11 suspended projects in Sri Lanka, following the country’s default on sovereign debts and
The Government of Japan has officially decided to resume disbursement for Yen Loan Projects in Sri Lanka, which were suspended following the country’s default in 2022. This decision was announced at a joint press conference by the Sri Lankan Finance Ministry, the Embassy of Japan, and the Japan International Cooperation Agency (JICA) Sri Lanka Office.