Sri Lanka’s envoy to China confirms Port City back on track

Port CityThe delayed Colombo Port City project, a plan to create a South Asian financial hub, has been given the green light, the Sri Lankan ambassador to China confirmed, according to the China Daily.

The $1.4 billion urban complex project will cover 233 hectares adjoining the Port of Colombo. The deal was signed between the Sri Lankan government and the China Communications Construction Co in November 2013.

“We feel Colombo is ideal for a South Asian financial hub,” Ambassador Karunasena Kodituwakku said in an interview with China Daily.

The location of the project will help connect businesses from India, Sri Lanka, Myanmar, Bangladesh, Pakistan and Singapore and the Middle East, he said.

The Colombo Port City is one of China’s key projects along the 21st Maritime Silk Road. “The most important South Asian port” under the initiative “will be a port in Colombo or another port in Sri Lanka”, said the ambassador.

Colombo Port City will become “a high-end urban complex in South Asia concentrating industries, including finance, tourism, logistics and information technology”, and the whole project will create more than 80,000 jobs, according to the Chinese Embassy to Sri Lanka.

However, the Sri Lankan government suspended the project in early 2015 after Maithripala Sirisena became president.

A greater environmental impact assessment to allay public concern was needed, which was “not the fault of the Chinese company”, Kodituwakku said.

The construction project’s “incremental environmental impacts” were assessed as “minimal/negligible at the reclamation site and the coastal zone to the North and South of the site,” said an environmental impact report released in December by the Sri Lankan Coast Conservation and Coastal Resource Management Department.

“The project will create employment. It will create tax income and indirect opportunities for other services. … Everybody will benefit,” the ambassador said.

2 COMMENTS

  1. The shortsighted Yahapalana government destroyed the development of Sri Lanka and finally approving what Rajapaksa started. Finally Yahapalana donkeys have done nothing new, but carrying out ‘what they said as wrong’ in the election time to remove Rajapaksa.

  2. The Silk Route Train from China to Madrid overhead of SARC is cheaper, faster, safer and environmentally friendly. This route is to be extended to Africa from Spain. The Train is run by Spain, Germany, Russia and China – it did it maiden voyage 1 years ago.
    Colombo port design date was conceived in an ideal environment of maximum Chinese trade. If this project gets on Hindia is going to wake up that it has lost because of its negligence of the South and build its own floating docks. In 50 years most of Bangladesh would be underwater.
    The amount being spent on Colombo is not much so it really does not matter even if the cost doubles.

    The entire round-trip is approximately 16,000 miles on the new Yixin’ou cargo line, which ends in the Spanish capital Madrid.

    “Euro Cargo Rail, a subsidiary of German freight operator DB Shenker Rail, is studying the possibility of starting a regular service between China and Spain during the first half of this year with two monthly trips.

    Read more: http://www.dailymail.co.uk/travel/travel_news/article-2968433/The-world-s-longest-rail-route-Train-finally-arrives-China-four-month-16-000-mile-journey-Spain-back.html#ixzz3xPUfq1J7

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