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Port city project will resume under new agreement

SujeewaThe Government says the port city project at Galle Face will resume under a new agreement following an environmental assessment.

State Minister Sujeewa Senasinghe said that the port city project deal is being renegotiated with China to ensure it meets the best interest of Sri Lanka.

He said that the Government will sign more trade deals with China and also with India.

However he said Sri Lanka will not allow its soil to be used for military purposes against another country.

“We will not stop any projects. We will review them and resume them. In the port city project we will eliminate any corruption involved and resume the project,” he said.

Senasinghe said that the Government will also have fresh deals with Korea to give employment opportunities for Sri Lankans in Korea.

The Government will also invite investors to setup projects in Sri Lanka under a clean and transparent agreement. (Colombo Gazette)

5 Comments

5 Comments

  1. Realist

    November 6, 2015 - 17:09 at 17:09

    This project requires a thorough and transparent economic review: what are the required developed property selling prices required to repay the Chinese?

    Reclamation is a very expensive form of development. This project is likely not viable without New York type apartment selling prices – who will be buying?

    The project has all of the hall marks of corruption on a grand scale. Watch to see whether a “free” piece of reclaimed land is planned to be freely “handed back” (the original back hander) by the reclaimers to parties connected to the government for Sri Lankan owned development.

    The beneficiaries will likely not be the Sri Lankan people. Standard “bent infrastructure development” operating practice.

    Also look for a mandatory Sri Lankan guarantee to repay the debt, a hugely overstated building and reclamation budget resulting in the debt larger than funds really required to build the development that in turn washes in to “free money” to the reclaimers and condo builders.

    A “free for all” Only all here means all of the insiders.

  2. N.Wimaladasa

    October 31, 2015 - 22:33 at 22:33

    Present ruling party of UNP and CBK+ MS- SLFP has start hate relationship with China by influence of US UK and Indian ruling click of RSS that Modi of BJP government.
    Sri lanka become laughing stock in world capital market ,after MS, UNP s-RW and CBK being to power 2015 January 9th by discard Chinese Investment in Island.

    We committed suicide that our own economy development and lost key an investors of China of wrong policy by UNP-RW short-sight political move.

    Indeed that Large number huge projects, that we have lost totally due to the mismanagement by UNP-RW policy of Neo-Liberal which lop sided economy and their short sight of mind set of Pro western line of thinking.
    I blame to UNP-RW who has violated legal rules and world accepts policy of Investments by World Trade Organization.

    The very UNP-RW and MS+CBK the marketing of supporting institutions that do not exist after across nation since 2015 January 9th..Currently
    nation that Capitalism has lost its path of growth after undermined huge an Investments from China.

    If you want market and economy to expand, that you need government to do the same.
    But UNP-RW, MS and CBK running on wrong directions that an opposites to that.

    • len

      November 1, 2015 - 08:43 at 08:43

      [Sri Lanka become laughing stock in world capital market]
      So nothing changed ha! from the days of MR regime corruption, thieving, nepotism, murderess, rapes, Ethanol shipments, Grandiose prediction still carrying on unhindered one might think MR is the puppet master still pulling the strings.

    • abey

      November 1, 2015 - 15:45 at 15:45

      Mr Wimaladasa, Have you ever heard of non – allignment and being feiendly willl all nations.
      Admittedly Yahapalaya is not quite working but MS+RW Foreign policy has worked except for people who cannot think straight like Wimaladas

  3. len

    October 31, 2015 - 11:54 at 11:54

    It was never going to be a issue of not going ahead. just bit of chest beating to keep the the natives happy and then go back to the Chines and Say Sir we are ready now for business as usual.

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