Lanka commissions India-assisted industrial park in Jaffna

Sri Lanka today inaugurated the first India-assisted major development project in Jaffna in the Northern Province that is likely to provide direct employment to 2,000 people in the former war zone.
The Atchchuvely Industrial Estate, set up through a grant-assistance of SLR 220 million by India, was inaugurated by Sri Lanka's Economic Development Minister Basil Rajapaksa and India's High Commissioner to Sri Lanka YK Sinha at a function held at Atchchuvely.
The Indian High Commission said in a statement that the Industrial Estate would attract potential investors from within and outside Sri Lanka by providing suitable infrastructure and amenities.
Sinha congratulated authorities for facilitating the completion of the project and hoped that this would promote industrial development in the Jaffna peninsula, which was the hotbed of the over three-decade of conflict between the LTTE and the Sri Lankan government that ended in 2009.

In Phase I of the project, 25 acres of land have been developed, which will facilitate setting up of 22 industrial units that will provide direct employment to 2,000 people and an indirect employment to nearly 10,000 people.
The park will help serve as a platform for industrial development of the region, for regeneration of livelihood in the Northern Province and for optimal utilisation of local resources.

The targeted sectors for investment in the Industrial Estate include textiles, plastic and leather products, oil and fibre products, food processing units, and agro-based industries.
The High Commission said when the Northern Railway Project being executed with Indian assistance rehabilitates the rail link upto Jaffna by September 2014, access to the Industrial Estate would be enhanced, thus, providing further stimulus to the business activities there.

India has been implementing a variety of multi-sectoral projects in Sri Lanka based on the needs and priorities identified by both the countries.
India's portfolio of development projects now encompasses virtually all major sectors of the economy, including housing, infrastructure, education, health, agriculture, fisheries, industry, handicrafts and culture.
A major share of the resources are devoted for the Housing Project involving construction of 50,000 houses and with a commitment of over USD 270 million, thereby making it the flagship project of Indian grant assistance to Sri Lanka.