The Indian government is to allocate a sum of Rs. 290 million to renovate a dormant boatyard in Karainagar, which was last functional in 2008, Cey-Nor Foundation Chairperson Ajitha Edisirisinghe told The Daily Business Morning yesterday (11).

“The Rs. 290 million will be used to renovate the boatyard, and make it functional for boat repairs for the people of the North. We are looking to construct boats, offer repair and storage for boats,” Edirisinghe said.

From the tranche, the foundation is looking to purchase boat construction equipment such as boat hoists, slipways, and welding and fabrication tools.

According to Edisirisinghe, the signing off on the memorandum of understanding (MoU) between the governments will happen once the President visits India in the near future.

When asked why the boatyard had not been functional since 2008, Edisirisinghe said that he was not aware as to why the boatyard had not been revived sooner.

“The plans to renovate this have been long coming for three to four years and they have been drawn and prepared by the experts at Cey-Nor,” he asserted.

Cey-Nor Foundation Ltd. is a government-owned company that manufactures boats and marine equipment.