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Tuesday June 22nd, 2021
Economy

Sri Lanka’s China City company wants to protect partially reclaimed area

COLOMBO (EconomyNext) – A Chinese firm that is reclaiming the sea near Sri Lanka’s capital Colombo has asked to build a protective barrier around the work already done, Deputy Economic Policy Minister Harsha de Silva said.

"They have asked to protect the thus far reclaimed land, with a protective barrier," De Silva said.

"That is what we are discussing now. It will have a negative impact on the existing equilibrium in the sea there."

De Silva said the matter was being considered because quite apart from the interests of the project itself Sri Lanka wanted to protect its own environment.

Sri Lanka’s new administration halted reclamation work of the China City citing environmental concerns and the lack of required approvals.

The China City company has said it will spend 1.4 billion US dollars reclaiming the land, which is the single largest foreign direct investment project in Sri Lanka’s history, other than Malaysia’s Dialog Axiata which has invested in a telecom network over two decades.
 

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