Port City investor pumps in $1bn for Financial City complex

6 October 2017 08:58 am - 5 - {{hitsCtrl.values.hits}}

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The Chinese investor which develops the Colombo Port City has already decided to invest US $ 1 billion in constructing a high rise building to house the proposed International Financial City, officials said yesterday. This is in addition to the original investment of US $ 1.5 billion for reclamation of land from the sea.

China Harbour Engineering Company builds the port city. It is an investment of US $ 1.5 billion for the reclamation of 269 hectares of land from the sea adjacent to the Colombo seaport.

It has registered a company named ‘CHEC Port City Colombo (PVT) LTD’. Project Director Nihal Fernando told the Daily Mirror that the investor would invest US $ 1 billion in two stages in addition to the original investment of US $ 1.5 billion to put up the building for the International Financial City.

It is slated to be a 40 to 60 storey building. Mr. Fernando said 45 per cent of land reclamation work had been done.

The land is reclaimed by filling it with sand dredged from two identified locations in the sea. Mr. Fernando said sea sand reclamation and breakwater construction would complete by June, 2019.

He said though any permanent construction could take place after that, there would some temporary structures to be built before that as the pavilion and sales gallery.

“That will happen in three months’ time. Besides, the permanent building will be constructed later by the Chinese party to house the international financial centre which the government is talking about. They have already worked out preliminary project details for it,” he said. (Kelum Bandara)

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Comments - 5

Thanos Friday, 06 October 2017 11:13 AM

It is sad the Indians are consistently blocking Chinese investments in the North. Northern province needs massive reconstruction, new infrastructure including desalinization plants, water purification, upgraded ports and sustainable energy projects like Windmills-farms and Solar power farms for rural areas. If there was proper devolution of power China could directly invest in the North, but the Indians and the GoSL don't want that.

ceylon Friday, 06 October 2017 11:43 AM

failed leaderships cteated viokencekillingsdisappearencessbillions property lossess and morelanka is 30-40 years behind of others.try hard now. via DM Android App

ceylon Friday, 06 October 2017 11:47 AM

protests and sex are the subjects these uni students sre study in universities. via DM Android App

Arnold Friday, 06 October 2017 05:34 PM

Before everything please make a decent public transport system for Colombo, subway, monorail or even decent air conditioned busses.

Mason Friday, 06 October 2017 06:02 PM

Is the Investment by Chinese Investor in building the High Rise in the Financial City Complex is to "gift" the building to Sri Lanka or is it another loan for us to pay back ? If it is a loan, needless to say the County could ill afford these luxuries at this point of time.A Coconut is Rs.100/- and the MPs are given an additional Rs.100,000/- !!

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Port City investor pumps in $1bn for Financial City complex

Comments - 5

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