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Port City project to commence in May

13 April 2016 10:57 am - 18     - {{hitsCtrl.values.hits}}

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Work on the Colombo Port City Project will begin in May this year, State Minister of National Policies and Economic Affairs Niroshan Perera said.

The Minister said that all agreements had been finalized. “Prime Minister Ranil Wickremesinghe who handles the subject of National Polices and Economic Affairs had finalized all agreements during his recent State visit to China and therefore it would be possible to begin the project in May this year. All efforts are being made to commence work on the project next month,” he said.

He further said that the earlier arrangement to give a portion of reclaimed land from the sea is being changed according to the new agreement and it would now be given on a 99-year lease.

He also said, foreign investors from outside China will be invited to invest in the project which would be connected to the Sri Lankan economy and be part of the Megapolis Development. (Yohan Perera)

 

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  Comments - 18

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  • WTF Thursday, 14 April 2016 04:23 AM

    What?? Ranil talked into a 99-year lease?? What a load of rubbish.. Ranil as always fooling the people by saying he did this and that.. Sad thing is how many people believe him though!! The agreement was always for 99 year lease..

    Moderator Thursday, 14 April 2016 07:02 AM

    By looking at the comments, all these are biased towards either of the two sides.Real story is that project was originally initiated without a proper plan or approval. No country could allow a foreign party or a local party to violate thee country's laws, whatever the commissions/ perceived benefits of it. Even currently, ,the project is snot ready to proceed, as there are two Supreme Court cases are pending decision.Dont blame thee Env pressure groups. Though they sometimes go excessively,, they are doing a good job to control the wrong doings of politicians, whatever the side. ,

    chandra Wednesday, 13 April 2016 08:18 AM

    It is easy to stop a projrct. Re-starting is the difficult and time consuming work. Unfortunately our politico does not understand this truth. via DM Android App

    Surya Thursday, 14 April 2016 11:16 AM

    It's very good news for the country. Now we have got even better conditions for the investment money. I am looking forward to see Colombo portcity in couple of years.

    Sharon Wednesday, 13 April 2016 09:51 AM

    It will not happen. I bet. This is a set of incapable implementors via DM iOS App

    iemerald Thursday, 14 April 2016 01:15 PM

    THIS RANIL IS BECOMING AN ALL BS.JUST TALK TALK TALK VERY LITTLE ACTION.COME ON RANIL CUT THE CRAP AND DO THINGS. THAT IS WHY PEOPLE ELECTED YOU.

    Unchikun Wednesday, 13 April 2016 11:03 AM

    The west is totally against China's policy of reclaiming land in the sea and claiming ownership. No country or company from the west will invest in this "Port City". Better rename it China Island, similar to China town or China Street.

    Amaran Wednesday, 13 April 2016 11:06 AM

    Indeed, a very good news in the New Year.

    Pol Buruwa Wednesday, 13 April 2016 11:17 AM

    The opportunity cost due to priject implementation delayed by the YAHAPALANA bunch amounting to more tham Rs. 500 billion and damege for the investor more than US$ 350 should chrged from NGO roughs and cheating politicisns who belongs to YAMAPALANAYA

    ANTON Wednesday, 13 April 2016 11:26 AM

    I THOUGHT OUR JONNY WILL TEAR DOWN THIS ONE ALSO.... HE IS SPECIALIZED IN DESTRUCTION.

    galaya Thursday, 14 April 2016 04:12 PM

    that is good for sri lankan future via DM Android App

    Onlooker Thursday, 14 April 2016 05:03 PM

    Row, Row , Row the boat ( Mahinda Chinthana ) to the shore.

    kukula Wednesday, 13 April 2016 01:01 PM

    Well said buddy, our politicos has good knowledge to make things complicated just to gain their cunning pursuits.

    Saman Kumara Wednesday, 13 April 2016 02:49 PM

    MR had given parcel of reclaimed land in sea. What a stupid decision. Russia sold Alasca for USD 9 million thinking only it was only ice in the land. Now realised it is oil rich American state now.MR give anything to get commission. Short sighted stupid leader.Ranil managed to give it 99 year lease. It is good move. One day our younger generation will generation will enjoy the the land back like Hong Kong style..

    Sri Wickrama Wednesday, 13 April 2016 03:14 PM

    But if the conditions agreed in the contract is harmful to the country and people it should be renegotiated. Can't help it.

    nuke Wednesday, 13 April 2016 04:10 PM

    1 year waste, if it had not been stopped we couldve seen quarter of the work done..

    Jesse Wednesday, 13 April 2016 08:51 PM

    The agreement always for 99 years of lease, it was people like you who never bothered to find out what was the real deal that made all stupid allegations and remarks.

    Sena Wednesday, 13 April 2016 09:44 PM

    Yamapalana prodawa coming to light


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