Chinese firm to build $1.4 bln Port City

25 July 2013 02:55 am - 19 - {{hitsCtrl.values.hits}}

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Sri Lanka has signed a deal with a Chinese company to build a $1.4 billion city complex on reclaimed land near the harbour of the capital Colombo, an official said Wednesday.

The state-run Sri Lanka Ports Authority (SLPA) will reclaim 230 hectares (568 acres) next to the new Colombo South port, said SLPA chairman Priyath Bandu Wickrama.

He said the SLPA finalised a deal under which China Communications Construction Company Limited (CCCC) will invest $1.43 billion to build a "Port City" that will change the coastline in the capital.

"We are moving towards the sea to reclaim land and build a mini city," Wickrama said during a visit to the port.

"We have finalised the deal with CCCC and construction will begin by September. We hope to complete the land reclamation within 39 months," he added, without saying when the deal was struck.

He said the SLPA planned a new 22-floor headquarters, hotels, apartments and recreational activities on the reclaimed land. The CCCC will be given 50 hectares (123 acres) of the land on a 99-year lease.

Several international hotels, including Hong Kong-based Shangri La are building hotels in Sri Lanka to cash in on the island's post-war growth after troops crushed Tamil rebels and ended 37 years of ethnic war in May 2009.

Chinese companies have emerged as key infrastructure partners and have already built air and sea ports, highways and railroads in the Indian Ocean island, which is strategically located along East-West trade routes.

The first phase of a $500 million container port next to the main Colombo harbour is due to open next month and bring Sri Lanka on a par with port facilities in Singapore and Dubai, Wickrama said.

China Harbour Engineering will have control over the new Colombo South Harbour for 35 years and it will compete with the existing state-run facilities as well as privately-owned container terminals within the large Colombo port.

Wickrama discounted fears that China was throwing a "string of pearls" or a geographical circle of influence, around the regional superpower India. He said Sri Lankan ports would not be allowed to engage in any military activity. (AFP)

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Comments - 19

pissu balla Thursday, 25 July 2013 12:47 PM

Is that 1.4 Billion enough? Have you thought about a portion for commissions?

Upul Friday, 26 July 2013 12:11 PM

What Galle Face? Entire country !!

Ayyo_Mage_Balla Friday, 26 July 2013 11:33 AM

We already have enough problems with Dognappers in Colombo.. Now our dogs will be used to feed the hungry chinese workers..

Mevan Friday, 26 July 2013 04:28 AM

Scenic Galle Face will be ruined forever.

Gallian Friday, 26 July 2013 04:10 AM

After the Tsunami Government has put a 100 meter barrier & misled the public now they have re-claimed the land on sea to build a port city.. what a joke..

Saman Thursday, 25 July 2013 02:31 PM

Every project MR started went up in failure. This is also another failed project. Want to know the commission percentage and the Interest.

John Thursday, 25 July 2013 02:07 PM

The TRIAD next?!

Mokada Leday Thursday, 25 July 2013 01:41 PM

No Sewage Problems, but this whole;e project stinks....and the bog bosses are salivating and laughing all the way to the bank, with their ill gotten gains..Disgracefully shameless.

DeSelva Thursday, 25 July 2013 01:39 PM

you mean Chian want the whole country

Upul Thursday, 25 July 2013 01:08 PM

Bora Diye Malu Gema.

KaluSudha Thursday, 25 July 2013 06:56 AM

China Town!!!!!!!!!!!!!!!!!!!

kandula Thursday, 25 July 2013 12:13 PM

Good, but hope the rest of original Colombo wont get problems with sewage systems.

Calistus Jayatilleke Thursday, 25 July 2013 12:11 PM

Big Trouble in China Town!

Pasel Thursday, 25 July 2013 11:52 AM

Is it same deal like Hambantota harbor ?
Finish half way and Sri Lanka can borrow more money to finish
We all remember government spend more money to remove the sea bed so the ships can enter the harbor
Now we have two failure projects by china Airport and Habor now one more by china the shopping complex in Colombo Harbor area
Build by china he same quality made in china

RCI Timeshare Resort Thursday, 25 July 2013 11:52 AM

Great article Thanks to shared with us ! please keep posting ,,,

AL-AMBRILLA Thursday, 25 July 2013 11:01 AM

Only gudu gudus.. has the separatist sickness where ever they go.

Maha Rajaneni Thursday, 25 July 2013 10:55 AM

We may face consequences for borrowing money as so much of corruption taking place in every walk of life. Leaders will come and go, but the common people will have to stomach all in the end. SAD BUT TRUE...

gOBBAYA Thursday, 25 July 2013 08:24 AM

Looks like miracle of asia is happening.good for daya siri.

DeSelva Thursday, 25 July 2013 07:16 AM

With most of the country now leased out to China can they ask for a seperate state?

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Chinese firm to build $1.4 bln Port City

Comments - 19

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