Mattala Airport to partner with Russia and India in joint venture

3 July 2024 08:01 pm Views - 1268

Colombo, July 03 - Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva announced today that the management of financially burdened Mattala Rajapaksa International Airport will soon be entrusted to a joint venture between Russia and India. 

This strategic move aims to inject new life into the airport's operations and leverage its potential as a regional aviation hub.

In a press briefing at the Presidential Media Centre, Minister de Silva underscored the importance of this partnership in revitalizing the airport, which has struggled with underutilization and financial losses since its opening in 2013. 

Simultaneously, Minister de Silva highlighted progress at the Kankesanthurai port, supported by a substantial USD 69 million investment from India. This funding is earmarked for the port's development, aimed at bolstering maritime trade capabilities and infrastructure.

During his address, Minister de Silva also touched upon the future prospects of SriLankan Airlines, emphasizing that the government has opted for a restructuring approach rather than pursuing privatization. Citing regulatory limitations that restrict the transfer of more than 49% of the airline's shares to external investors, he noted the government's commitment to revitalizing the national carrier under a strategic restructuring plan.