Japan’s Mitsui and Co Ltd is returning to Sri Lanka with the intention of pursuing many business and investment opportunities in the areas of infrastructure and energy sectors.
The company sees a lot of potential in the island’s infrastructure projects such as ports, roads and traffic and power sectors.
They also plan to enter into the energy sector in Sri Lanka, especially to get into Liquefied natural gas (LNG), Chief Regional Officer of Colombo Office, Kohei Akiba told the Sunday Observer.
To increase its presence in Sri Lanka, the company will open a country office at the World Trade Centre tomorrow. Mitsui was one of the biggest construction companies in Sri Lanka many years ago. “We have contributed to this country and its economy in many ways. Some of the Mitsui’s main construction projects in Sri Lanka include the Parliament in Sri Jayewardenapura, hydropower station in Kukule Ganga, Samanala Wewa Hydro Project, Marine cable project with India and Hilton Hotel Colombo. Mitsui has also been exporting Ceylon Tea to Japan for a long time. “Now the company foresees a lot of opportunities in Sri Lanka. The increasing presence of other Asian giants in Sri Lanka’s development sector is also encouraging,” Akiba said.
After the war ended in 2009, and with the improvement in the political and economical arena with a GDP rate of 5%, Mitsui, the management in Tokyo headed by President and CEO, Tatsuo Yasunaga has made a decision to return to Sri Lanka. “Now Sri Lanka attracts world attention as an important trade, export and transhipment hub which is connecting Asia with the rest of the world crossing Middle East and Africa, given geopolitical advantage. This is an advantageous situation for us, Akiba said.
Mitsui which is listed as a Fortune 500 company is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 139 offices in 66 countries as of May, 2017. “Utilizing our global operating locations, network and information resources, we are multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron and steel products, Mineral and metal resources, Infrastructure projects, Integrated transportation systems, Chemicals, Energy, Food Resources, Food products and Services, Consumer Services, IT and Communication, Corporate Development Business,” he said.
Mitsui is actively taking on challenges for global business innovation around the world.