Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Expolanka Freight to start hub operations under agreement with Sri Lanka investment agency
Wed, Feb 26, 2014, 09:44 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 26, Colombo: Expolanka Freight (EFL), one of the largest freight forwarders in Sri Lanka, has become the first investment company to start operation in all hub activities in the country.

Expolanka Freight has signed an agreement with the Board of Investment (BOI) of Sri Lanka under the new commercial hub regulation to start hub operations, the BOI said in a release.

"With Sri Lanka aiming to be a global hub for apparels and other consumer product, the country is well positioned in Asia as an emerging maritime hub with the availability of deep draft ports along the east west shipping route," the BOI said.

Following the new legislation, the government has further opened up the economy to allow free port activities including those related to international logistics and warehousing.

EFL, one of the leading and well recognized freight solutions providers, has established Expo Global Distribution Centre (EGDC) focusing exclusively to handle international logistics and value addition activities for the fashion industry with the aim to expand into other verticals. This project marks a new frontier for both Sri Lanka and EFL to offer third party logistics and retail supply chain management solutions to global customers, the BOI said.

EGDC will be the first company under the new regulation which can accept cargo for international warehousing and conduct value additions ultimately supporting just in time inventory models that have become increasingly popular with retail brands. The new facility is based at the Katunayake Zone and will offer full services for enter port trade, cross trade along with international warehousing and multi country consolidation.

This initiative supports the government vision of Sri Lanka becoming a commercial logistics shipping and aviation hub and is the first of its kind in South Asia.

ColomboPage - Recent 10 Stories
Browns Hotels and Resorts of Sri Lanka to develop four-star hotel in Maldives
-- [1 hour and 49 minutes ago]
India to supply two naval offshore patrol vessels to Sri Lanka - report
-- [2 hours ago]
Sri Lanka police use water cannons and tear gas to disperse university students' march
-- [2 hours ago]
Sri Lanka's Sinhala Buddhist extremist group to contest for the upcoming elections
-- [2 hours ago]
Sri Lanka External Affairs Minister defends ministry secretary against 'unfounded allegations'
-- [3 hours ago]
Iran calls for expanding politico-economic relations with Sri Lanka
-- [4 hours ago]
Opposition lawmakers on fact finding mission attacked in Sri Lanka
-- [9 hours ago]
EU General Court says ruling to lift sanctions on LTTE is a legal ruling not a political decision
Asia Foundation and Justice Ministry assess land disputes in Sri Lanka's Northern and Eastern Provinces
Tamil organization seeks MOU between Sri Lanka and India to facilitate return of Tamil refugees

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.