MAC Holdings to begin freeport operations with US $ 5mn investment

By Nishel Fernando 
Sri Lanka’s MAC Holdings plans to venture into freeport operations by investing over US $ 5 million to set up a freeport facility in the Katunayake Free Trade Zone, adjoining Bandaranaike International Airport.

“We are planning a freeport in Katunayake. The land is already allocated and we have to sign the lease agreement with the Board of Investment (BOI) now,” MAC Holdings Chairman and Managing Director Andre Fernando told Mirror Business.

He revealed that MAC Holdings is investing a minimum of US $ 5 million to set up the operations in an area of 475,000 square feet.

The firm is targeting to offer logistical services to fast-growing economies in the Indian subcontinent to support the country’s long-term vision to become a logistics hub in the Indian Ocean. Fernando noted that MAC Holdings has already secured the necessary approvals from the BOI and plans are underway to commence its freeport operations by April next year.

MAC Holdings is a market leader in global logistics and transport solutions, hospitality and leisure and specialises in providing innovative and customised solutions from a single source. 
The group’s prime business activities include freight and logistics, renewable energy, hospitality and leisure, fisheries and aquaculture, aviation, shipping and strategic investments. 

MAC Holdings commenced its 150-year journey in the shipping agency sector with the acquisition of Equity Services Ltd, a former subsidiary of Carson and Cumberbatch & Co Ltd. 
The group is focusing on expanding its presence into different directions with aspirations of becoming a leading multifaceted conglomerate in Sri Lanka.