Friday Dec 20, 2024
Friday Dec 20, 2024
Friday, 20 December 2024 00:28 - - {{hitsCtrl.values.hits}}
Agreement being signed between HIPG and Comfort Mattress Lanka
Comfort Mattress Lanka Ltd., has become the first investor to seize the opportunity to set up operations in the Hambantota International Port’s (HIP) industrial park.
With an investment of $ 25 million, the project targets key export markets, including the USA, Europe, and Canada.
The move follows Hambantota Port Group’s recent investment in upgrading crane facilities to expand container operations.
Under a 30-year renewable long-lease agreement with HIPG, Comfort Mattress Lanka will construct a 62,000-square-metre factory dedicated to sponge mattress manufacturing and processing. The facility will import raw materials from Southeast Asia and China, with an expected annual output of 7,000 TEUs.
HIPG’s efforts to position the port as a gateway for transhipment and a key industrial hub include the ongoing development of HIP’s state-of-the-art container yard.
HIPG CEO Wilson Qu said: “The container yard we are developing will handle transhipment and strengthen HIP’s positioning as a gateway port. We anticipate heightened interest in the industrial park over the coming years, and as Sri Lanka’s economy stabilises, we foresee industries outside the port taking advantage of HIP’s strategic location.”
The project represents significant opportunities for local employment in Sri Lanka. The CEO emphasised the importance of youth training in technical and mechanical skills in the Hambantota district and surrounding areas to ensure that the local workforce is skilled and well-prepared to benefit from new developments.
The inclusion of Comfort Mattress Lanka in HIPG’s industrial portfolio, highlights the group’s ability to attract global businesses, reinforcing its commitment to cooperation, and mutual benefit. This collaboration reflects HIPG’s strategic vision to drive sustainable growth and strengthen Sri Lanka’s position as a modern trade and industrial hub while contributing to the nation’s economic prosperity.
HIP said this milestone further establishes the company as a catalyst for investment and industrial development, setting the stage for future projects that will benefit both the region and the country.
