Singapore business tigers interested in Sri Lankan beer

[TamilNet, Wednesday, 14 July 2010, 22:34 GMT]
Following the visit of Malaysian corporate brokers, the Singapore Business Federation led by its Deputy Mission Leader V K Rajan and 14 members of the team visited their business counterparts in Colombo, the Federation of Chambers of Commerce (FCCISL) this week to discuss possibilities of joint ventures. The Singapore delegation was interested in manufacturing beer brands, manufacturing equipment and machinery for the construction industry, create architecture, real estate business, manufacturing lumps and fine powders, construction material, and consultation. The FCCISL General Secretary Tushita Tennakoon said the investors could import raw material and export their products to India, Pakistan and Maldives after value addition.

Meanwhile, Colombo has started evaluating petroleum potentials off Galle and Hambantota too.

Out of 12 identified blocks, in the Palk Bay, Gulf of Mannaar and in the south, two have been given to China and India.

Sri Lanka has involved several other countries in the other blocks including Russia and Ukraine.

Tenders will be called for five blocks this year, media reports said.

The Indian company Cairn India engaged in 3400 Sq. Km of Mannaar Basin will be required to support education and training of Sri Lankan staff, support environmental studies and transfer related technology to Sri Lanka, during the 8 years licensed period.