Reclaimed land blocks at Sri Lanka's Port City to be ready by early 2019
Dec 07, 2016 07:10 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - The first blocks of land reclaimed from the sea in a Chinese backed project near Sri Lanka's Colombo port will be available for construction in early 2019, an official said.
Reclamation re-commenced apace after Sri Lanka's new administration signed a revised agreement with China in September, allowing the project which was halted on environmental grounds in early 2015 to proceed.
Thulci Aluwiharei, head of Business Development and Strategy at the project company, CHEC Port City Colombo (Pvt) Ltd, a unit of China Communications and Constructions Company Ltd (CCCC) said reclamation work will take three years to complete, and the first blocks will be ready fr construction in two years.
The 269 hectares of land reclaimed from the sea will be vested with the Sri Lanka's Urban Development Authority.
Up to 40 percent of the land will be leased back to the Chinese firm on a 99-year lease, to develop.
Sri Lanka's government will get 60 percent of the land which will include 60 hectares of commercially usable land for its own use.
Officials said under a revised environmental impact assessment, sand extraction is being made from deeper sea than earlier planned (beyond 3 kilometres) avoiding near shore fishing grounds. (Colombo/Dec07/2016 - Corrected - up to 60 percent of the total land will go to Sri Lanka's government)