India funds Rs. 290 Mn. for rehabilitation of Karainagar Boatyard

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A Memorandum of Understanding for rehabilitation of the Karainagar Boatyard in Northern Province of Sri Lanka, with grant assistance from Government of India to the tune of SLR 290 million, was signed and exchanged by High Commissioner of India to Sri Lanka Santosh Jha and the then High Commissioner of Sri Lanka to India Kshenuka Dhireni Senewiratne on December 16, 2024.

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. Once fully operational, the rehabilitated boatyard will augment livelihood opportunities of local fishermen, create more job opportunities in the area including small establishments round 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.

Notable past projects in the Northern Province include construction and renovation of over 41,000 houses; a state-of-the-art Cultural Centre at Jaffna as a reconciliation project; removal of wrecks and dredging at Kankensanthurai Port; construction and repairs at numerous schools and hospitals across Jaffna, Kilinochchi, Mullaithivu, Vavuniya; restoration of Thiruketeeswaram Temple; distribution of significant quantities of assistance to the agricultural community, as well as fishing community including boats, nets, outboard motors, freezers, etc; among numerous others.