India Inc eyeing Sri Lanka for projects

MUMBAI: A host of Indian companies are planning to develop projects across sectors in the island nation of Sri Lanka.

The companies have already identified the land and besides, have also received approval from the Sri Lankan Government for their projects.

"Larsen and Toubro (L&T) is constructing a commercial complex here and the total cost of the project will be USD 50-million," Sri Lanka Board of Investment's Director, C Ignatius, said.

The company has already acquired the land for the project and it is expected to be completed by next year, Ignatius said.

The engineering and construction major has already developed projects in Sri Lanka such as a 26-storey residential apartment at Colombo, design and construction of urea storage silo and prill tower for a fertiliser complex and design, test, manufacture and supply of 33kV, 132kV and 220kV transmission line towers for Sri Lanka's electricity board.

A Bangalore-based commercial and residential property developer, Girish Puravankara-run Lalith Gangadhar Constructions Limited, is also constructing residential villas outside Colombo, he said.