6 August 2024 07:05 am Views - 71
India which offered over US $ 62 million grant assistance for the development of the Kankesanthurai Port has sought to operate it for 30 years under an agreement, an official said.
Initially, the Indian government intended to grant a loan for the execution of the northern port project. However, India has now shifted its focus to grant projects in Sri Lanka because of the current state of the economy.
Recently, Sri Lanka cleared the proposal for the development port under grant assistance from India.
Secretary to the Ministry of Ports, Shipping and Aviation K.D. S. Ruwanchandra told Daily Mirror that an Indian constructor would execute the project according to the initial proposals. Asked about the commercial operation of the port once built, he said India had sought to operate it for 30 years.
“No finality has been reached yet,” he said.
Situated in the northern province of the country, the Port of Kankesanthurai, commonly referred to as the KKS Port, covers an area of approximately 16 acres. The port is located at a distance of 56 nautical miles from Karaikal Port, Pondicherry, India. When it comes to overland travel, the distance between the port and the nearest land is approximately 23 kilometres.
The KKS Port, with a rich and lengthy history, began its operations as a commercial port coinciding with the establishment of the Cement Factory in Kankesanthurai in 1950, according to the Sri Lanka Ports Authority.
Both India and China compete for strategic investments in Sri Lanka, China has already secured control of the Hambantota Port on a 99-year lease.