Chandra Wants Answers On US Dollars 1,300 Million ‘Colombo Port City’ Deal
February 11, 2014
Good governance activist and former Chairman of the Ceylon Chamber of Commerce, Chandra Jayaratne has written to the Minister of Investment Promotion requesting clarifications on the US Dollars 1,300 million Sri Lanka – China Colombo Port city deal.
Chandra Jayaratne
His letter to the Minister in full is found below:
7th February 2014
Hon. Minister of Investment Promotion,
Ministry of Investment Promotion,
Levels 25 & 26, West Tower,
World Trade Center,
Echelon Square,
Colombo 1.
Dear Mr. Minister,
Clarifications Re; Gazette Notice Issued under Strategic Development Projects Act No.14 of 2008 on 24th January 2014- No. 1846/51
I kindly refer you to the gazette notice issued by you, dated 24th January, 2014, in terms of Section 3(2) of the Strategic Development Projects Act, in connection with the proposed project for the development of Colombo Port City in two phases for the construction of wave protection breakwater, land reclamation, ground improvement, revetment, canals to connect seawater, artery roads, utilities with a total investment of US Dollars 1,300 million, which is said to bring significant economic and social benefits to the country, by creating 233 Hectares of new land and attracting strategic importance in view of, the new land, inflow of foreign investments, potential employment and foreign exchange generation and changing the landscape of the country. Your attention is further drawn to the Annex detailing extracts from the Sri Lanka Ports Authority Web and the Sunday Times.
The relevant gazette notice names the Project Company as CHEC Port City Colombo (Private) Ltd, and is expected to commence commercial operations within 8 years from the date of the Project Agreement signed with the Board of Investment of Sri Lanka. Read More
