Dart Global gets land in Sri Lanka logistics zone

ECONOMYNEXT: Dart Global Logistics has won a 30-year lease on a two-acre block of land in Muthurajawela, a marshland North of the Colombo port, part of which has been declared a logistics zone, with a bid of Rs102.6 million.The company, one of two bidders for the block, made the highest bid for the land of 2 acres and 11 perches whose base value was Rs.83 million, according to a proposal by Patali Champika Ranawaka, Minister of Megapolis and Western Development approved by the Cabinet of Ministers this week.
The block is part of 400 acres at Muthurajawela filled with sea sand and developed by Sri Lanka Land Reclamation and Development Corporation and given for various projects.
Most of the lands have already been disposed of various investment projects and state sector projects.
The total lease premium for the land won by Global Logistics will be paid up front and construction start within a period of 6 months after the deal is signed with commercial operations to commence within two years.