US $25 Million Project at Hambantota International Port’s Industrial Park

• 19 Dec 2024
• 0

Following Hambantota Port Group’s (HIPG) recent investment in upgrading crane facilities to expand container operations at the Hambantota International Port (HIP), Comfort Mattress Lanka (Pvt) Ltd. has become the first investor to seize the opportunity to set up operations in the port’s industrial park. With an investment of USD 25 million, the project targets key export markets, including the USA, Europe, and Canada.

Under a 30-year renewable long-lease agreement with HIPG, Comfort Mattress Lanka will construct a 62,000-square-meter 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 (Twenty-foot Equivalent Units).

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. Wilson Qu, CEO of HIPG, expressed optimism about the project’s potential, stating, “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.

This milestone further establishes HIP as a catalyst for investment and industrial development, setting the stage for future projects that will benefit both the region and the country.

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