Govt to spend US$ 85 million to develop Trincomalee
The government will develop infrastructure and
local services in Trincomalee with US$ 85 million assistance from
the Asian Development Bank (ADB) under the Integrated Urban
Development Project.
The project, while improving the infrastructure
and local services in the Trincomalee Urban Development area, will
also encourage private sector investment and operation through
promotion programs.
The government is planning to attract port related
investments into Trincomalee.
The ADB has agreed to fund the Integrated Urban
Development Project for Trincomalee and the total project cost is
expected to be US$ 85 million.
The cabinet has approved the proposal submitted by
the President, in his capacity as the Minister of Defence and Urban
Development to conduct feasibility study on the project and submit a
detailed report.
Courtesy : President Media Unit |
