Saudi-based group to invest in Sri Lanka free zone infrastructure

Updated 19 July 2015

Saudi-based group to invest in Sri Lanka free zone infrastructure

The recent agreement signed by Gammon Middle East with Sri Lankan President Maithripala Sirisena is expected to draw more than $10 billion in foreign investment in various projects to be established in the free-zone, said Shaikh Rafik Mohammed, chairman of the Saudi-based group.
Speaking to Arab News, Mohammed said the $1.2 billion free-zone in Colombo would boost the island state’s economic and industrial progress, attracting major multinational companies.
“We expect investment of at least $10 billion in the free zone by companies in India, China, Canada, Europe and Australia. The free-zone will also create 15,000 new job opportunities for Sri Lankan citizens,” he added.
He said Gammon has already received permission from the president to launch the Dubai-model free zone in Sri Lanka.
“We have agreed to invest $1.2 billion to construct infrastructure required for the free-zone,” he said.
The leading free zone industrial infrastructure development group Gammon has concluded preliminary agreement with the Lankan government following a day-long discussion with Sirisena recently.
The biggest motivation to Sri Lanka to enter the free zone segment came from the example set by Dubai, which had astounded the world with its Free Zone projects, Mohammed said.
Dubai is the first one among the UAE emirates to have successfully implemented Free Zone projects. It was the realization that such projects implemented with far-sightedness are indispensable for the development of any country. This attracted Sri Lanka toward the free zone concept, he added.
The Sri Lankan Government is very much interested in associating with the Gammon Group, which has already proved its credibility by successfully completing major infrastructure development projects, according to President Maithripala Sirisena.
Sri Lanka will provide 700 acres of land to Gammon for the project in the eastern province of the island nation.
“The Gammon Group is immensely glad to have accepted the responsibility to implement various development projects in Sri Lanka including the Free Zone, a Knowledge City, hospitals and roads,” Mohammed said.
He described the meeting with the Sri Lankan President as quite productive and pointed out that Sri Lanka was a country with an immense potential for development.
“The country has great possibilities for both sea and land transportation. Since the establishment of internal peace in the country, many Indian firms have started showing interest in investing in Sri Lanka and the Free Zone would open up new doors for them,” the Gammon chief said.
Gammon has developed free zone projects in Kyrgyzstan and many other countries.
The discussions were attended by various ministers from Sri Lanka including the Minister for Home Affairs, Amir Ali Shahabdeen and top officials from the country along with the representatives of Gammon Group O. M. Abubacker, P.K. Syed, managing director Gammon UAE and Mohammed Riyas, director Gammon UAE.


CEO of Mohammed Bawazir Trading Group praises Saudi-Indonesian ties

Updated 16 August 2019

CEO of Mohammed Bawazir Trading Group praises Saudi-Indonesian ties

RIYADH: Sheikh Mohammed Fawzi Bawazir, chairman of the Mohammed Bawazir Trading Group, has praised relations between Saudi Arabia and Indonesia on the occasion of the Asian archipelago’s 74th independence day.

Citing the long history and shared Islamic culture between the two countries, Bawazir also said the ties had been strengthened by the recent visit of King Salman to Indonesia in 2017 and a reciprocal visit to Riyadh by the Indonesian president in April.

Bawazir said: “It is important for our company to establish business relations with the largest Islamic country member of the G-20 and also the largest Islamic pilgrimage mission, which exceeds the number of 250,000 pilgrims in addition to the one million Umrah visitors.

“Our business relationship with Indonesian companies is good and represents a strategic business partnership and is constantly evolving.

“We represent the largest Indonesian companies in the Saudi market as agents and exclusive distributors of their products such as MAYORA Group of Companies and Tropicana Silm Company as well as many factories that produce our Own brand for food products REEM, Tropica Coal and Indo Coal and we are still looking for more business partners from Indonesia.

“Our company is committed to supporting Indonesian products in the Saudi market through a professional team that serve and distributes the products in all over the Kingdom in different market sectors,” he added.