India Inc eyeing Sri Lanka for projects

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

The companies have already identified lands 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 $50-million," Sri Lanka Board of Investment's Director C Ignatius told PTI here.

The company has already acquired land for project and is expected to be completed by next year, 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 and prill tower for a fertiliser 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, is also constructing residential villas outside Colombo, he said.