Cement Company acquires a vessel
Updated on Thursday, November 27th 2008; 21:30 Hrs. SST (16:00 Hrs. GMT)
The Lanka Cement Company secures ownership of a vessel. The Company which was on the verge of closure was revived under the guidance of Senior Presidential Advisor and Parliamentarian Basil Rajapakse and at the behest of the President..
Minister Kumara Welgama said it had already achieved substantial progress.
He said they would be able to secure a better service with the help of this vessel. It will not only undertake transport to the North but will also be able to ship cement imports from Pakistan.
The Cement Company took charge of the vessel at the Colombo Harbour this morning. The vessel has been secured on the basis of payment with the revenue earned and under the personal mediation of Chairman of the Corporation Sisira Paranagama. It was a vessel of the CLK Asia Pacific Company of Singapore.
Minister Chamal Rajapakse, Parliamentarian Vinayagamurthy Muralitrharan and Managing Director of the Singapore Company Stephen Lim were present.
end:
The deal sounds fishy, with hidden profits for a few, immaterial whether this venture would turn profitable or not. Furthermore, whether the ship itself become target of the third naval force in those waters.
Only time would tell.
The insurance companies would not insure the vessel for voages in the War Zone.
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