India extends financial assistance of Rs 6.9B to upgrade KKS Harbour

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By 2018-01-14

An agreement for Indian financial assistance for US $ 45.27 million (LKR 6.9 billion) for upgrading Kankesanthurai (KKS) Harbour was signed on 10 January 2018 in New Delhi by Export-Import Bank of India Managing Director David Rasquinha, and Secretary to Treasury of Sri Lanka Dr. R. H. S. Samaratunga, a press release stated. Senior Government officials of India and Sri Lanka were also present.

The upgrade would make KKS Harbour a fully-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 release added.
A MoU was signed between India and Sri Lanka for the rehabilitation of KKS Harbour. Four out of six phases of the rehabilitation have already been completed under India's grant assistance.

This includes preparation of Detailed Project Reports (DPRs), works related to Geo-technical studies, wreck removal and disposal, dredging and hydrographic survey. The fresh assistance of US$ 45.27 million (Rs 6.9 billion) would be used for the remaining two phases, involving work 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 release concluded.

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