Govt. has no business plan yet to develop Lotus Tower: Official

20 August 2019 09:10 am - 7     - {{hitsCtrl.values.hits}}

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The government has not yet shown any interest to envisage a business plan to develop the Lotus Tower project, Prof. Samitha Manawadu, Coordinating Consultant and the Team Leader of the project, said.

The consultants had already requested the documents from the contractors over the completion of the project. Once the consultants have taken over the project from contractors, they would hand it over to the government.

“We are hoping to declare open the project by September. Even if it was opened in September, it seems the government has not yet created a business plan to develop it by calling for any contractors to commercially invest in it,” he said.

Earlier, a report issued by the Auditor General’s Department said the project embroiled in a mired of shortcomings topped with a loss of Rs.5,475 million incurred by the government due to the construction delay in the Lotus Tower project.

The construction of the 350-metre high Multi-Functional Transmission Television and Telecommunication Tower was earlier scheduled to be completed in March 2015.

Prof. Manawadu said the loss was an opportunity cost since the project could not be opened on time.

“Had it been opened as scheduled in 2015 and opened for businesses, no loss would have been incurred,” he said.

He went on to note that all the funds were not released from the China Export-Import Bank of China (EXIM) because of the construction delay.

Later on, the bank has agreed to release the remaining funds to the contractor.

“We did not agree to this since if that happened, we would have to go behind the contractor to get the construction finalised,” he said.

The Auditor-General Department report also said there had not been a feasibility study of the project. Prof. Manawadu said since the project was a pre-designed project, no feasibility study was carried out. “However, this project was proved financially viable,” he said.

The Sri Lanka Telecommunication Regulatory Commission (SLTRC), China National Electronics Import and Export Corporation (CEIEC) and Aerospace Long - March International Trade Corporation Limited (ALIT) signed the contract for the project in 2012. (Darshana Sanjeewa Balasuriya)

Pic by Nisal Baduge

  Comments - 7

  • Sira Tuesday, 20 August 2019 09:30 AM

    Colour green consistent with lotus but in daytimes this colour makes the building look horrible.

    BuffaloaCitizen Tuesday, 20 August 2019 09:37 AM

    All crooks trying to justify another white elephant project. Couldn't we use this money for developing Galle Road from Fort to Panadura into a four lane highway? It would have improved the life of millions who travel daily, reduce pollution, save time, save energy, save foreign exchange on fuel!!!

    Sunil Tuesday, 20 August 2019 09:38 AM

    Of course the government has no plans, not only to develop Lotus Tower but to develop the entire nation. All that it is interested in is to rob banks and sell the country wholesale.

    cheers Tuesday, 20 August 2019 09:44 AM

    this government has only robbed big time but not doing anything for the country and they will go home soon

    Lord Wolfstein Tuesday, 20 August 2019 09:52 AM

    The main reason for building the Lotus Tower was for Sri Lanka's politician to receive bribes. They do not care about anything else.

    Saranga Walimuni Tuesday, 20 August 2019 10:43 AM

    same old story Tax payers are taken for granted and sad to see political rallies with tons of slaves

    Aney Yako Tuesday, 20 August 2019 08:54 PM

    Wasn't this a project that the Rajapaksas started?


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