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Omani Investors to develop solar park

04 Aug 2021

  • Sign MoU with UDA
 
  • Express interest in investing SL securities
    Omani Shumookh International LLC has submitted an investment proposal to the Government of Sri Lanka for the development of a 100 MW solar park in Siyambalanduwa in Sri Lanka, according to reports. They have also signed a Memorandum of Understanding (MoU) with the Urban Development Authority (UDA) of Sri Lanka, expressing their interest for investments in selected projects. The Omani delegation has also expressed interest in investing in the securities of the Government of Sri Lanka. The Sri Lankan Embassy in the Sultanate of Oman organised a successful visit of investor delegation to Sri Lanka from Omani Shumookh International – an investment arm of the Public Establishment for Industrial Estates in Madayn – under the investment bubble concept from 20-26 July 2021. The delegation led by Omani Shumookh International Executive Director Abdullah Al Bulushi called on President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa and also held a series of constructive discussions with Minister of Finance Basil Rajapaksa, State Minister of Money, Capital Markets, and State Enterprise Reforms Ajith Nivard Cabraal, State Minister of Solar, Wind, and Hydro Power Generation Projects Development Duminda Dissanayake, Central Bank Governor Prof. W.D. Lakshman, as well as with various government agencies and high-level government officials on the specific investment opportunities available in Sri Lanka. The delegation also paid field visits to potential investment sites in Colombo and Hambantota. Ambassador of Sri Lanka to the Sultanate of Oman Ameer Ajwad earlier this year met with Public Establishment for Industrial Estates Chief Executive Officer (CEO) and Shumookh Investment and Services Chairman Sheikh Hilal Hamad Al Hassani and briefed on the unfolding investment opportunities in Sri Lanka. Ambassador Ajwad had also organised an introductory meeting between State Minister Cabral, together with the Central Bank delegation and the Madayn delegation headed by Sheikh Al Hassani during the former’s visit to Oman in April this year. The Embassy of Sri Lanka in Oman, jointly with the Omani Embassy in Sri Lanka, organised a visit of the delegation from Shumookh Investment and Services comprising CEO Eng. Musallam Juma Al Hadaifi, Executive Director Al Bulushi, and Shumookh Legal Counsel Robin Mande, headed by Ambassador of the Sultanate of Oman to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi in June 2021 under investment bubble concept. Ajwad stated that during the series of recent visits undertaken by the investor delegation from a high-profiled Omani establishment, despite Covid-19 pandemic travel restrictions, the delegation has demonstrated their keen interest in deepening economic engagement with Sri Lanka, in particular for investments in high-end commercial properties, selected infrastructure projects, and securities in Sri Lanka.


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