Business

Sri Lanka Tourism facilitates the country’s first cable car project to take off soon

Published

5 years ago

2021/12/31

The last few years have seen a united and consolidated effort on all fronts, aimed at transforming Sri Lanka into a truly contemporary tourism destination. This includes positioning the island as a land of wonder and awe, overflowing with magical experiences, yet offering modern facilities and world-class amenities. There is also excellent work being done on the ground to ensure the right infrastructure is in place and the island’s countless delights are easily accessible to all visitors. This includes ease of access for the disabled and mobility challenged, as the island strives towards a more inclusive tourism industry.

The most recent project in this spirit is ‘The Cable Car Project’, an initiative by the Outdoor Engineering Lanka PVT Ltd, facilitated by the Investor Relations Unit (IRU) of Sri Lanka Tourism Development Authority (SLTDA). The project which is a first for Sri Lanka will give the island its first cable car experience, which will span a distance of nearly 4 Kilometers. The Cable Car will connect Nanu Oya, a destination made famous due to its strategically located railway station, with Nuwara Eliya town. This, in turn, will provide an alternative and beautifully scenic route between the two locations.

The location chosen for the project takes advantage of the breathtaking scenery and allows visitors a bird’s eye view of the lush green landscape, rolling hills, numerous tea estates, and of course the montane forests of Nuwara Eliya. This new way of locomotion will reduce the direct impact of tourism on nature, while still allowing visitors to observe, interact and enjoy the surroundings with a minimal environmental impact. The project with an investment value that currently stands at EURO 55 Million (USD 62.15 Mn) will be implemented as a “build, own, operate and transfer” model and thus, this agreement allows the total capital investment to be transferred to the Government of Sri Lanka after a period of 30 years. The project is scheduled to be completed within just 18 months from the date of receiving all approvals. Outdoor Engineers AG of Switzerland and its local representative, Outdoor Engineering Lanka Pvt Ltd are exponents of the project. Outdoor Engineers AG brings over 30 years of experience in the ropeway industry and has been involved in over 30 cable car installations all over the globe, including the famous Sentosa Cable Car in Singapore. The cable car equipment will be supplied and installed by partner organization of Outdoor Engineers AG, Doppelmayr Seilbahnen GmbH of Austria, who is the current world leader in cable car manufacturing and installations, having constructed over 15,100 installations in 96 countries. The Ropeway system used on the project, has a long history of use in the mountainous regions of Europe and has more recently found wide acceptance around the world. What sets them apart from most other forms of transportation is their ease of use, low environmental impact, and sustainable outlook. In fact, cable car systems are ideal for the tourism sector as they have minimal impact on the environment, help drastically reduce emissions, and leave behind no harmful emissions or residue. The project will be built according to the highest global safety standards, reliable, and easy to maintain with cost associated with operation and upkeep.

Speaking about this novel and exciting project, The Chairperson of Sri Lanka Tourism, Ms. Kimarli Fernando had this to say, “It gives everyone at Sri Lanka Tourism immense pride to be involved in this project, which is indicative of the progressive attitude we have adopted towards the future of the island and its tourism sector. The IRU division of the SLTDA together with the respective line agencies enabled a high level of competency and efficiency in keeping with international construction, safety, environmental, and quality standards. As a result of an effective and healthy collaboration of all line agencies involved, it allowed for complete compliance with all necessary regulatory frameworks, allowing for greater efficiency and transparency”

The design of the ‘The Cable Car Project’ ensures that it blends seamlessly with the surrounding landscape so as to not distract from the natural setting. Care has also been taken to preserve the tree line, canopy, and other aspects of the wilderness during construction and implementation. It was shown that the implementation of the project would reduce harmful greenhouse emissions by approximately 180 metric tons per year. As a BOOT project (Build, Own, Operate, Transfer) the operation will create new industries, opportunities, and jobs in the region. This is essential, as Sri Lanka looks to lift the standard of living across the country while providing more new opportunities to rural communities. The project is also indicative of what can be achieved when the many facets of government work together towards a unified vision. Working closely with Sri Lanka Tourism the UDA signed an MoU with Outdoor Engineering Lanka Pvt. Ltd. on the 09th of December to allocate land for this project on a 30-year lease period and did an excellent job clearing the necessary land, while also establishing strict guidelines for its preservation and use. A collective effort of vital government agencies such as the CEA and Forest Department along with nearly 20 other line agencies were also indispensable to the project’s success.

The project is one of several which are underway, under President Gotabaya Rajapaksa’s ‘Vistas of Prosperity and Splendor’ policy initiative. This is a vital step in the right direction as Sri Lanka positions itself as an exclusive destination, for the high-value experiential traveler. The projects will also bolster the island’s reputation in the eyes of the world, showcasing it as a cosmopolitan destination that has just about everything a world traveler could desire.

Sri Lanka Tourism

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Business

Super El Niño threatens to deepen Sri Lanka’s drought and economic woes

Published

15 hours ago

2026/09/4

Thilina Walpola

By Ifham Nizam

A potentially dangerous El Niño is gathering strength across the Pacific, with the World Meteorological Organization (WMO) warning that the climate event is expected to become very strong and continue into February 2027, raising the risks of drought, floods, extreme heat and major disruptions to rainfall patterns worldwide.

The warning has particular significance for Sri Lanka, where communities in several agricultural districts are already facing severe drought, depleted water sources and shrinking farm incomes.

The WMO said yesterday that forecasts from its Global Producing Centres show an “exceptionally high likelihood of nearly 100%” that El Niño will persist through February next year. The organisation said this is the first time one of its El Niño/La Niña updates has been so unequivocal, reflecting strong agreement among forecasting systems.

The event, driven by exceptionally warm waters in the tropical Pacific, is expected to strengthen further in the coming months, reach very strong intensity and peak towards the end of this year. Its climate impacts, however, are expected to continue well into 2027.

According to Meteorological Organization

Sri Lanka is already experiencing the consequences.

A Reuters report published on Wednesday from drought-affected areas said rainfall deficits of between 85% and 100% have been recorded in important farming regions including Ampara and Monaragala.

Wells, tanks, rivers and lakes have dried up, while tens of thousands of people are depending on government water deliveries, with some remote communities reportedly waiting up to 23 days for supplies.

The drought is also rapidly becoming an economic problem for rural communities. Croplands have withered, livestock operations have been affected and farmers who have lost their harvests are being forced to seek daily-paid employment to survive.

The latest WMO outlook also warns that the consequences of El Niño will not necessarily be uniform. The severity and timing of impacts in individual countries depend on geography, season and other climate drivers, including conditions in the Indian and Atlantic oceans.

For Sri Lanka, the Indian Ocean Dipole (IOD) will therefore be crucial. The WMO expects a positive IOD to develop, with a September-November seasonal mean of about 0.9°C. This could modify the normal influence of El Niño on rainfall over the region.

That creates another potential risk for Sri Lanka: the country may have to prepare not only for continued drought but also for episodes of intense rainfall, flooding and landslides later in the year. Climate variability increasingly means that a prolonged water shortage can be followed by sudden and destructive rainfall rather than a gradual return to normal conditions.

For Sri Lanka, the warning should therefore be viewed as an economic and national-planning issue, not simply a meteorological forecast. Agriculture, drinking water, electricity generation, food imports, public expenditure and rural livelihoods could all be affected.

Business

ABC Trade & Investment – All-China Environment Federation partner to drive Sri Lanka’s green infrastructure and investment

Published

15 hours ago

2026/09/4

Thilina Walpola

ABC Trade & Investments (Pvt) Ltd, a leading homegrown conglomerate in Sri Lanka’s ICT distribution and diversified business landscape, has formally entered into a strategic Memorandum of Understanding (MoU) with the All-China Environment Federation (ACEF). The partnership establishes a collaborative framework aimed at accelerating new-energy development, water management, and environmental protection projects across Sri Lanka.

The agreement bridges advanced Chinese engineering capabilities, equipment, technical expertise, and investment resources with ABC Trade & Investments’ local operational strength, market insight, and project implementation skills. By pairing international technology with on-the-ground execution, the initiative is designed to address Sri Lanka’s long-term environmental and civil infrastructure priorities.

The MoU was signed by Amalrajah Jayaseelan, Director/CEO of ABC Trade & Investment (Pvt) Ltd, and Shi Xiang, Secretary-General of the Belt & Road Eco-Industry Cooperation Working Committee of ACEF. The signing took place during the China–Sri Lanka Environmental & Energy Exchange and Cooperation Meeting at the Nondescripts Cricket Club Grounds in Colombo, held under the theme “Empower Green Development, Jointly Build a New Pattern of China–Sri Lanka Environmental & Energy Industry.”

Business

Heavy buying interest slows down stock trading

Published

15 hours ago

2026/09/4

Thilina Walpola

By Hiran H. Senewiratne

The CSE yesterday was very active at the outset but later slowed down due to heavy buying interest noted for select stocks.Amid those developments both indices moved upwards. The S and P SL20 went up by 23.73 points. Turnover stood at Rs 2.44 billion with 10 crossings.

The crossings were: Renuka Foods 19 million shares crossed for Rs 502 million; its shares traded at Rs 25.30, Dipped Products 1.9 million shares crossed to the tune of Rs 117 million; its shares traded at Rs 60.50, JKH 3.9 million shares crossed for Rs 78 million; its shares sold at Rs 19.70, Dialog Axiata 1 million shares crossed to the tune of Rs 46.6 million; its shares traded at Rs 46.40, Tokyo Cement 500,000 shares crossed for Rs 39.5 million; its shares sold at Rs 79 and Watawela Plantations 800,000 shares crossed for Rs 34 million; its shares were Rs 42.50 each.

In the retail market companies that mainly contributed to the turnover were; Vallibel Finance Rs 281 million (3.3 million shares traded), Dipped Products Rs 114 million (1.9 million shares traded), Haycarb Rs 90 million (424,000 shares traded), Alumax Rs 42 million (2.6 million shares traded), HNB Rs 38.5 million (102,000 shares traded), Swisstec Rs 30 million (506,000 shares traded) and Sierra Cables Rs 34 million (880,000 shares traded). During the day 118 million share volumes changed hands in 17802 transactions.

It is said that mixed market reactions were noted during the day. Financial sector, especially Vallibel Finance, performed well, while the manufacturing sector, especially JKH and Hayleys , performed significantly.

Meanwhile, Co-operative Insurance Company announced the redemption of 1,100,000 cumulative redeemable preference shares issued in December 2020 to the Health Department Co-Operative Thrift & Credit Society.

The total redemption consideration of Rs 16.61 million, including a 9 percent per annum cumulative dividend, is set for settlement on August 31, 2026.

Yesterday the rupee was quoted at Rs 328.25/35 to the US dollar in the spot market, stronger from Rs 328.30/60 the previous day, while bond yields were somewhat steady, dealers said.