CHEC suspends Port City work

8 March 2015 08:53 am - 6     - {{hitsCtrl.values.hits}}


The CHEC Port City Colombo (Pvt) Limited has decided to suspend the ongoing work on the Port City Project with immediate effect.

In a statement, the company said an official communication by the government had requested the Company to submit all valid permits and approvals issued by the relevant government authorities to the Ministry of Ports, Shipping and Aviation.

Full statement

China Communications Construction Company Limited (CCCC), the ultimate investor in the Colombo Port City Project, clarifies the following facts.

CHEC Port City Colombo Private Limited, a company incorporated in Sri Lanka which is fully owned by CCCC has received official communication from the Secretary to the Minister of Ports, Shipping & Aviation, communicating a decision taken by the Cabinet Ministers of Sri Lanka, directing the suspension of the ongoing work for the Port City Project, with immediate effect.

The official communication further directs CHEC Port City Colombo (Pvt.) Ltd to submit valid permits and approvals issued by the relevant government authorities. The company will be taking all necessary steps to provide these requested documents as instructed by the Ministry of Ports, Shipping & Aviation to abide by the notification received, without prejudice to the legal rights of the company under the Agreement entered into with the Government of Sri Lanka on 16th September 2014, to develop the Port City Project.

China Communications Construction Company Limited (CCCC), is a responsible corporate and is a global Fortune 500 public listed company. The company will fully cooperate with the Sri Lankan Government and continue to adhere to the procedures and conditions stipulated in the said agreement entered into with the Government of Sri Lanka, including the commitments contained in the approved Environmental Impact Assessment study and addendum thereto. Further, CCCC will continue to comply with the laws of the country and follow the necessary guidelines issued by the Government for a mega development project of this nature.

The foreign direct investment by CCCC for the creation of the Colombo Port City Project is USD 1.4 billion and the project is estimated to generate 83,000 local jobs. The project when fully completed is expected to attract international investments with a total value estimated at USD 13 billion. The complete commercial risk of this project will be borne by CHEC Port City Colombo (Pvt) Ltd.

The technical partners of Port City are world-class companies such as AECOM, one of the world’s largest design firms for urban development based in USA, while ATKINS is the world’s largest engineering consultancy firm based in the UK.  SWECO of Sweden is the master planning consultant for the project.

The vision for Port City is to establish Colombo as the ultimate business and tourist destination in South Asia. The land created will attract local and international investments for shopping malls, hotels, apartments, an exhibition center, educational institutions, healthcare facilities, theme parks, restaurants etc. Port City is planned to be very much a city for the people of Sri Lanka to be shared and enjoyed by all Sri Lankans.

  Comments - 6

  • agis Monday, 09 March 2015 01:45 PM

    The immediate tragic outcome of the suspension of work at the port city was that all Sri Lankan workers employed at the site including Crane Operaters, Bulldozer Operators Dump Truck Drivers and manual skilled and un-skilled labour were discontinued from their employment

    appuhamy Sunday, 08 March 2015 06:12 PM

    The sri lankans should decide if they want a Chinese company to own a piece of landscape outright as mentioned in the agreement. Everything else is nonsense.

    korala Monday, 09 March 2015 08:59 AM

    This Indian government wants to stop this project which befits to our people.its a threat for them all over the world even america and England get large scale loans from china

    Shaul Sunday, 08 March 2015 09:33 PM

    In the event, if the new Govt finally decides to scrap the Colombo port city project, then the prospective future foreign investors in infrastructure development in Sri Lanka will be wary of any new investment due to the uncertainties as to what could happen to their investments if the current Govt loses in the election.

    Gamaya Monday, 09 March 2015 11:58 AM

    if most of leading business men in Colombo are from India, what is the wrong in having a Chinese city??? Then we have both Indians and Chinese...

    hiran Gunawardena Monday, 09 March 2015 07:12 PM

    This is pretty sad state of our country. No one in right mind decline 800m investment. via DM Android App

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