CHEC Port City, a subsidiary of China Communication Construction Company (CCCC) and the Project Company of the Colombo Port City said that the Sri Lanka government is yet to invite the Company for a discussion or issue a directive to the company regarding the project review process, which is currently underway.
Issuing a statement the company said that, the Project Company has requested for an opportunity to express its concerns regarding the temporary suspension to the GoSL appointed Review Committee, and is willing to fully corporate with the committee during the review process.
The Project Company complied with the suspension notice issued on March 6, 2015 immediately and as per the directive given by the Sir Lankan Government, submitted copies of all permits and approvals within two working days. The Company notes these permits and approvals were originally issued by the relevant competent authorities of the Government of Sri Lanka and the Sri Lanka Ports Authority (SLPA), clearly directing the Project Company to commence reclamation work of the Colombo Port City.
In keeping with the agreement signed between the Project Company and the Sri Lankan Government, the responsibility for securing approvals and permits relating to the project is vested with the Government of Sri Lanka and SLPA, whilst the commercial risk of the project is being absorbed by the Project Company, as the total project development cost of approximately USD 1.4 billion, is invested by the Project Company.
As such, the commissioning of the Environmental Impact Assessment (EIA) study and other permits and consents, in keeping with the agreed Public-Private Partnership (PPP) structure of the project, were secured by the SLPA and was then referred to the Project Company. SLPA engaged with the University of Moratuwa, to conduct the EIA. The company reiterates that EIA was commissioned by the SLPA, in keeping with the Terms of Reference (ToR) formulated by a Sri Lanka Government appointed Technical Evaluation Committee (TEC) comprising senior officials and agencies from Sri Lanka including the Coast Conservation Department and the Central Environmental Authority, Geological Surveys & Mines Bureau, and the Department of Archeology. The EIA study was approved by the TEC and the Coast Conservation Department, the project-approving agency.
The Project Company has prepared detailed feasibility reports that have been evaluated by the international lenders to the project, prior to drawing down of the debt component. Such studies include detailed reports prepared by Jones Lang LaSalle (JLL) and CB Richard Ellis (CBRE), the world’s largest real estate consultancy companies. Matters relating to infrastructure design, availability and utilization have been addressed by international consultants Atkins of UK, AECOM of USA and SWECO of Sweden, and over several months discussed and documented with Government agencies such as National Water Supply & Drainage Board (NWSDB) and the Ceylon Electricity Board (CEB).
Further, the land allocation in terms of the concession agreement was negotiated and agreed between the Sri Lanka Government and the Project Company, taking into consideration inter alia all aforesaid matters and in particular, the fact that the total cost of the project is financed by the Project Company.
The Project Company awaits the opportunity to clarify the above details and provide necessary information to the Project Review Committee.
idiots this no different from when foreign individual buys land or shares in sri lanka. Its his to do as he wants or sell whenever he wants. These 99 year Leese terms have no economic sense.
RD Tuesday, 07 April 2015 07:09 PM
I think we all miss the point here. Once entered into an agreement, both parties should comply with the terms. There is no unfair act in Sri Lanka but if a term is against the public policy of Sri Lanka (e.g. giving land to a foreigner on freehold) then the Government should take the case to the Court. Otherwise we (whether UNP or SLFP) all are abide by the terms of the agreement and if the Government suspends or terminates the project we need to pay compensation to the Chinese company.
daily editor moda Tuesday, 07 April 2015 07:15 PM
Waiting for another thsunaml where the machines
simon Tuesday, 07 April 2015 05:19 PM
Here we go again !
BanisMama Tuesday, 07 April 2015 05:46 PM
This company needs to go to Unawatuna and see the damage that was done by building a small breakwater at one end of the beach. What will happen when this Port City is built. Ask Mahinda.
Magedara Tuesday, 07 April 2015 05:56 PM
Not an inch of land reclaimed from the ocean belongs to Sri Lanka should be given as an outright grant to any foreign country. Therefore, the conditions of the agreement should be changed.
Deshapremi Tuesday, 07 April 2015 05:56 PM
You can proceed but will get land on lease for less than 99 year s.
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