begins in 2018

Published : 9:16 am  December 21, 2017 | No comments so far |  |  (1365) reads | 

Work of  first development phase of Financial city

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A proposal to draw up an agreement between the China Harbour Engineering Corporation (CHEC) and the Ministry of Megapolis and Western Development to construct the Financial City was approved by the cabinet yesterday.


The cabinet stated that 50 percent of the reclamation was now complete and that the government will commence construction work in mid 2018.


The government also said that feasibility studies are being carried out for the construction of the city and that environmental reports for the process was now open  for public discussions. The government had also decided to award the designing of the city to an American company – Skidmore Owings & Merrill.


A direct investment of USD 1 billion will be made by the China Harbour Engineering Corporation and an agreement will be drawn between the Urban Development Authority and the company.
Meanwhile, speaking to the media on a previous occasion Minister of Megapolis and Western Development confirmed that fifty percent of the land reclamation for the Port City had been completed.
The Minister went on to say that the government is set to establish the first development area next year with competitive bidding to be held by the government soon after.

 

  • A direct investment of USD 1 billion will be made by the China Harbour Engineering Corporation


Speaking of the projects that would be developed hand in hand with the development project, Minister Ranawaka said that a marina will be constructed close to the reclaimed land focussing on tourism and the development of coastal areas up to Dehiwela, an elevated expressway from the New Kelaniya Bridge which is to connect to the Port City with the road continuing underground thereafter and connecting to the Kollupitiya Railway Station were some projects.


A Light Railway Transit system will also be established connecting Pettah, Slave Island and Kollupitiya railway stations. “We will receive funding from JICA for this project and we hope to begin work next year,” the Minister said.

 

A Light Railway Transit system will also be established connecting Pettah, Slave Island and Kollupitiya railway stations


Speaking of infrastructure facilities for the city once it is completed, Minister Ranawaka said that a company will be established in partnership between the government and the project company. “Waste disposal, water and electricity supply will be provided by the company and the Colombo Municipality will not be burdened by them,” he said.


A 90 hectare public park will also be established in the reclaimed land, which the government hopes would increase land value.