India extends financial assistance of Rs 6.9 billion to upgrade KKS Harbour
January 12, 2018 07:38 am
An agreement for Indian financial assistance for US $ 45.27 million (LKR 6.9 billion) for upgrading Kankesanthurai (KKS) Harbour has been inked between Sri Lanka and India.
The MoU was signed on 10 January in New Delhi by Mr. David Rasquinha, Managing Director, Export-Import Bank of India and Dr. R.H.S Samaratunga, Secretary to Treasury of Sri Lanka. Senior officials from the governments of India and Sri Lanka were also present.
The upgradation project would make KKS Harbour a full-fledged commercial port, further strengthening Sri Lanka’s efforts to become a regional maritime hub. It would also assist in reconstruction efforts in northern Sri Lanka, the Indian High Commission said.
It may be recalled that there exists an MoU between India and Sri Lanka for rehabilitation of KKS Harbour. Four out of the six phases of the rehabilitation have already been completed under India’s grant assistance.
This includes preparation of Detailed Project Report (DPR), works related to Geo-technical studies, wreck removal and disposal, dredging and hydrographic survey.
The fresh assistance of US $ 45.27 million (LKR 6.9 billion) would be used for the remaining two phases involving works relating to the rehabilitation of the breakwater and existing pier, construction of a new pier for commercial cargo handling, installation of port infrastructure facilities, etc.
“The signing of the MoU is a reflection of the continued commitment of Government of India to assist Sri Lanka in its development journey,” the statement said.