Sri Lanka and India have signed a Memorandum of Understanding (MoU) on December 16, 2024, for the rehabilitation of the Karainagar Boatyard.
The agreement, supported by a grant of Sri Lankan Rs. 290 million from the Government of India, was signed by India’s High Commissioner to Sri Lanka Santosh Jha and Sri Lanka’s then High Commissioner to India Kshenuka Senewiratne.
The project envisages rehabilitation of Karainagar Boatyard of the Cey-Nor Foundation Ltd, incorporated under the Ministry of Finance, Planning and Economic Development and operating under the Ministry of Fisheries, Aquatic and Ocean Resources. The project will cover civil works and procurement including installation of plant, machinery, equipment, material, services etc, the Indian High Commission in Colombo said in a statement.
Once fully operational, the rehabilitated boatyard will augment livelihood opportunities of local fishermen, create more job opportunities in the area including through small establishments around the boatyard, and help enhance the supply of quality fisheries products.
With a development cooperation portfolio with Sri Lanka of over USD 5 billion, India’s people-centric development assistance initiatives in virtually all major sectors are making a tangible difference to the daily lives of the people of Sri Lanka across all the 25 districts of the country, the statement said. (Newswire)
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