Thursday Nov 14, 2024
Thursday Nov 14, 2024
Saturday, 24 December 2022 00:36 - - {{hitsCtrl.values.hits}}
Plug-and-play, park-in-park facility by Xinji Shenzhen Group getting ready to end first phase by end-December
The fast-developing INSEE warehouse structure
A number of projects in the Hambantota International Port’s Industrial Park are nearing completion, marking the success of 2022 as the ‘Year of Construction’.
In spite of a certain slowdown during COVID-19, this international industrial park has secured over 40 projects from over 8 countries and has emerged stronger as ever, adhering to their ‘HIP Speed’ concept to renew construction and meet deadlines.
A plug-and-play, park-in-park facility by Xinji Shenzhen Group will also be completed by the end of the year. The $ 15 million facility will provide ‘one stop’ services to light industries. The two-phase project, being built on 44,194 square metres of land, will be ready with its first phase of a 1,500 square metres warehouse by end December 2022 and is expected to begin operations by mid-2023.
The first phase of construction on two of the projects will be completed by the end of 2022. The first phase of the $ 3 million mega capacity warehouse by INSEE will see completion by February 2023 and move on to second and third phases immediately after.
INSEE expects the 17,300 sq. meters in-port warehousing complex to become wholly operational in the second quarter of next year. The warehouse will improve INSEE’s cargo discharging efficiency, resulting in better vessel turnaround times and significant savings in forex.
A covered bonded warehousing facility measuring 50,000 square feet is also being built by Hambantota Port Logistics Services (HLPL). Upon completion, the facility will have a storage capacity of 45,000 metric tons and will mainly be used for local distribution and transshipment of fertiliser. The 5,000 square metres warehouse will not only attract new cargo volumes to HIP, but will also contribute to the port’s goal of becoming a regional hub for bulk cargo.
Another $ 300 million tire manufacturing plant by Ceylon Tire Manufacturing and a luxury yacht manufacturing plant by Sea Horse Yachts are also slated for completion in the next few years to come. In addition to the projects at ground level works, HIP projects in operations also includes $ 65 million Laugfs Gas terminal, $ 5 million Sinopec Fuel Oil Lanka operating HIP’s Tank Farm to carry out the business of ship refuelling and oil trade in South Asia and Intertek Lanka for operating its field-testing laboratory.
