India has pledged Sri Lankan Rupees 290 million to revitalize the Karainagar Boatyard in the Northern Province, as announced by the Indian High Commission.
This development project, in collaboration with Cey-Nor Foundation Ltd., aims to enhance the island nation’s fisheries sector while creating job opportunities and boosting livelihoods for local communities.
A MoU formalizing this agreement was signed on December 16 by Indian High Commissioner Santosh Jha and Sri Lanka’s then High Commissioner to India, Kshenuka Dhireni Senewiratne. The initiative includes extensive civil works and the installation of advanced machinery and equipment, ensuring the facility’s full operational capacity.
Once completed, the revamped boatyard will not only improve the quality and supply of fisheries products but also stimulate economic growth in the area. Small businesses surrounding the boatyard are expected to benefit, contributing to sustainable development.
India’s development assistance portfolio in Sri Lanka exceeds $5 billion, reflecting a strong commitment to people-centric projects. In the Northern Province,
India has previously undertaken significant initiatives, including the construction and renovation of over 41,000 homes, establishing a Cultural Centre in Jaffna, and dredging operations at Kankesanthurai Port.
Other efforts have included repairs to schools and hospitals, restoration of the Thiruketeeswaram Temple, and provision of essential tools and equipment to the fishing and agricultural communities.
The Karainagar Boatyard, established in 1967 with Norwegian support, was once a leader in fiberglass boat production.
However, operations ceased in 1990 due to challenging circumstances. In 2016, Rs. 350 million was allocated for its renovation, but financial constraints left critical tasks incomplete. India’s latest financial grant seeks to address these gaps, completing the facility’s restoration.
The project has received all necessary approvals, including clearance from Sri Lanka’s Attorney General and Foreign Affairs Ministry.
It has also been endorsed by the National Planning Department and Foreign Resources Department, highlighting its importance to the nation’s maritime sector.
Former Fisheries Minister Douglas Devananda’s proposal for the renovation garnered Cabinet approval, paving the way for progress. With India’s support, the project aims to bring renewed vitality to the Karainagar Boatyard, reaffirming its legacy and fostering economic resilience in the region.
