The government, determined to go ahead with the controversial Colombo Port City Project has appointed a ten-member committee of officials to review the tripartite agreement with necessary amendments the government intends to bring soon.
Cabinet spokesman and Minister Rajitha Senaratne told the weekly cabinet news briefing today that the Cabinet on Wednesday gave approval to sign an Extension Agreement to the Agreement that had been signed between the project company - China Harbour Engineering Company (CHEC) and the Government of Sri Lanka for the development of the Colombo Port City Project and thereby extending the validity of the Agreement for six months ending March 15, 2016.
Minister Senaratne said the purpose of the Extension Agreement, which was signed on September 17, 2015 was to enable negotiations and agreement between the government and the Project Company and also to introduce the necessary amendments to the Concession Agreement annexed to the GOSL Agreement required to make it a tripartite agreement between the government the Urban Development Authority (“UDA”) and the Project Company, as envisaged in the Cabinet Decision of June 17 2015.
Prime Minister Ranil Wickremesinghe presenting the relevant cabinet memo has recommended to appoint a ten-member committee of officials representing the government in place of the previously appointed Committee of Secretaries to monitor and report on the Colombo Port City Development Project, to make the necessary amendments to the government agreement with the Project Company and for evolving a mechanism to ensure that the conditions in the government agreement and the extension agreement are fulfilled. (Sandun A Jayasekera)
The two main points that need attention are - 1 The Chinese not given freehold land or even a 99 year lease and 2 the financial terms to allow reduction of the exhorbitant interest rate of the Chinese loan but get it down to usual Development Loan rate of 2% and ten year gracelike ADB or Japanese loans.
smith Friday, 09 October 2015 12:08 PM
Colombo will soon be a concrete jungle and the beauty it had will be list, what is the great need to destroy and gain from the sea. you are contributing to loss of more land in the world with water levels rising. Such a crime
Jehan Thursday, 08 October 2015 10:01 PM
Because they couldnt bring in any substantial foreign investment they have to move ahead with this. otherwise PC Ranawaka will have nothing to show after 5 years
Mason Friday, 09 October 2015 12:24 PM
This project is in no manner productive for the common man and the country. It is a sellout and should therefore be scrapped.This is what was said before the Presidential Elections. All the politicians who voiced objections are now Ministers and MUM seems to be the word.
de silva Saturday, 10 October 2015 09:41 AM
More chinese firms and chinese nationals will come to the country and soon we will have a China town.
Sapu Thursday, 08 October 2015 05:55 PM
The govt is doing right, the controversial agreements need to be changed and PortCity could re-start
Ranjit Wijewansa Friday, 09 October 2015 09:04 AM
It is important to go back to square one and find out who initiated this Colombo Port City project and for what purpose. There are agents of many foreign companies stationed in Colombo with the express task of scouting around for mega projects. Having located something they consider ideal, then they get round ministry officials and sell them the idea, having also contacted their principals. In this manner all semblance of national planning goes overboard and the project goes ahead with flimsy environmental impact assessment reports.The idea to fill the Muthurajawela marsh in its entirety in the 1980s, but was successfully prevented, is a classic case in point of such ventures. We are always very clever at closing the stable door after the horse has bolted !
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