Sri Lanka to extend China Port City deal pending clearances
ECONOMYNEXT – Sri Lanka will extend a one year agreement with a Chinese company whose sea reclamation project is on hold by another six months pending final approvals being given, a minister said.
CHEC Port City Colombo (Pvt) Ltd, began a 1.4 billion US dollar project to reclaim land and build a city near Sri Lanka’ main port on a one-year agreement during the ousted Rajapaksa administration which ended on 15.09.2015.
The project was suspended by the new administration pending environmental clearances.
The cabinet of ministers had decided to extend the agreement by another six months for the approvals to be given following a proposal made by Ports Minister Arjuna Ranatunga.
According to the agreement, it is the responsibility of Sri Lanka to provide clearances for the project. (Colombo/Sept17/2015)