China Harbour to break ground billion dollar towers in Sri Lanka in June: Minister

ECONOMYNEXT – China Harbour Engineering Company (CHEC) expects to break ground on a billion US dollar 60-floor triple tower project at the Colombo Port City in June 2018, Megapolis Minister Champika Ranawaka said.

The first 20 acres of reclaimed land in the 269 hectare Colombo Port City will be leased to CHEC on a 99-year lease by March, he said.

Under current law, the reclaimed land will be vested in the President of Sri Lanka who will in turn it over to the Urban Development Authority. The UDA will in turn lease it to China Harbour.

China Harbnour will being construction of the first three 60-floor towers by June, Minister Ranwaka said.

Up to 46 percent of the foreign direct investments in 2017 had come from projects related to the Megapolis and Western Development Ministry, he said. (Colombo/Jan25/2018)

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