Investor interest spikes for Mattala airport development

Investor appetite for the development of the Mattala Rajapaksa International Airport (MRIA) showed a marked improvement, with over 45 participants recorded at the pre-proposal meeting under its fresh Expression of Interest (EOI) process.

Speaking to local media Deputy Minister of Ports and Civil Aviation Janitha Ruwan Kodithuwakku revealed that the fresh EOI process attracted a level of interest not seen during the previous EOI process.

He stated that EOIs were called for the MRIA, with the process scheduled to close by mid-July, and strong interest emerged.

Under the previous regime, only one party expressed interest when EOIs were called, whereas over 45 potential investors participated in the pre-proposal meeting for this EOI process.

The Deputy Minister attributed the increased interest in this fresh EOI process to the confidence among foreign investors in the current Government.

Kodithuwakku further said that the participants at the pre-proposal meeting expressed substantial interest in the project.

He added that the authorities expect proposals from a substantial number of these investors, comfortably eclipsing the single proposal received during the previous EOI process held under the former regime.

The renewed interest follows the Government’s decision to restructure the MRIA development project.

The Deputy Minister revealed plans earlier this year to invite fresh EOIs under multiple service categories for the comprehensive and holistic development of the airport, opting to cancel the EOI process commenced by the previous regime, which called only for a passenger operator for the MRIA.

Accordingly, a fresh Cabinet paper was filed seeking fresh EOIs for the restructured project under several service categories.

At the time, the Deputy Minister explained that the restructured project was to be segmented into distinct categories for which EOIs would be solicited separately, including Maintenance, Repair, and Overhaul (MRO), passenger operations, cargo, hotel and hospitality services, and flying schools.