Connect with us

News

Port City Colombo marks 7th anniversary with vertical development set to commence

Published

on

Port City Colombo, the largest and most ambitious development project ever undertaken in Sri Lanka, proudly marks its 7th anniversary since the initial land reclamation work commenced in 2014.

During this period, the project has committed USD 1.4 billion of foreign direct investment to Sri Lanka for initial reclamation and internal infrastructure development. The project is expected to attract USD 15 billion in the 25 years of its development phase.

Last year, China Harbour Engineering Company (CHEC) and Browns Investments PLC announced their joint venture of the first vertical development at Port City Colombo – the Colombo International Financial Center (CIFC). CHEC, as the leading partner, recently entered into a Cooperation Term Sheet to begin development work on the CIFC Mixed Development Project. This will be the first of many landmark development projects planned for Port City Colombo. China Harbour Engineering Company and its partners will further enter into an investment agreement with the Government of Sri Lanka shortly with the aim of commencing development work before the end of 2021.

The passing of Port City Economic Commission Act in Parliament and the appointment of the Commission is a significant milestone for Port City as it marks seven years of existence. Over the past seven years, Port City has undertaken an unprecedented transformation of the very topography of Colombo. In the years to come, Port City Colombo looks forward to leading the transformation of the face of the city, helping Colombo take its place among the great cities of the world. Further, Port City awaits for Covid restrictions to relax to open the Marina and beach areas to the public upon government approval.

Port City Colombo is a brand-new city development built as an extension of the existing Colombo CBD, with an initial investment of USD 1.4 billion and an expected USD 15 billion overall investment when completed. Port City Colombo’s entire reclaimed land of 269 hectares is owned by the Government of Sri Lanka (GoSL). Ninety one hectares of land is dedicated for common amenities such as parks, green shaded roads etc. while 178 Ha are slated for state-of-the-art developments constituting A Grade office, retail destinations, unique residential developments, medical facilities, educational facilities, an integrated resort, a luxury marina, hotels and other lifestyle developments.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Over 70 assault rifles reported missing from undisclosed Army camp

Published

on

IGP Weerasuriya

By Norman Palihawadane

Authorities have launched an investigation into the disappearance of over 70 assault rifles from an undisclosed Army camp.The police confirmed that two of the missing T-56 assault rifles had been recovered.

A 47-year-old Civil Defence Force (CDF) member has been arrested in connection with the incident. Acting on information from the suspect, police recovered a T-56 with 11 rounds of ammunition in Kotawila, Matara, on Friday. The arrest followed an earlier recovery of another T-56 rifle and a grenade in Ruhunuketha, Welikanda, which the suspect was allegedly attempting to sell.

Investigations have revealed that the suspect had sold one more T-56, with ammunition, for Rs. 200,000. The CDF member’s arrest came after a person, detained by the Wellampitiya Police with a pistol, confessed to purchasing the weapon from him, providing contact details that led to his arrest.

The Colombo Crimes Division (CCD) obtained a 90-day detention order for further questioning of the suspect.

Acting IGP Priyantha Weerasuriya confirmed to The Island that details of the Army camp and officers involved were being withheld for now.

Police Media Spokesman SSP Buddhika Manatunga said that the CCD and CID were conducting parallel investigations into the case.

Further updates on the missing firearms and their potential links to crimes are expected as the investigation progresses, SSP Manatunga told The Island.

Continue Reading

News

Over 35 hospitalised in Matara bus collision

Published

on

More than 35 people were hospitalised following a head-on collision between two privately-owned buses in Matara yesterday morning.Six persons sustained serious injuries and are currently receiving treatment at the Matara Hospital, police added.

Police Spokesman SSP K.B. Manathunga said that there was a rising number of road accidents involving privately-owned buses in recent times. In response, police have intensified legal actions against passenger bus drivers who violate traffic regulations.

SSP Manathunga announced on Saturday that the government has approved the recruitment of an additional 10,000 police officers. This move aims to strengthen efforts in preventing road accidents, as well as supporting broader anti-crime and anti-drug operations.

Investigations into the cause of the collision are ongoing, SSP Manatunga said. (RK)

Continue Reading

News

Another jumbo dies

Published

on

Text and Pic by Dinasena Rathugamage

A 25-year-old elephant that had been struggling in pain and hunger for 14 days due to suspected severe gunshot injuries died on Saturday near the Iranamadukulam tank in Kilinochchi.

Villagers who noticed the injured elephant informed Wildlife officers about its condition. Although a team of officials rushed to the location and attempted to treat the elephant, its condition was critical due to severe injuries and its extreme weakness, making recovery impossible.

 Wildlife officers said that the elephant was about 25 years of age and they suspected that the elephant’s injuries had been caused by a gunshot. A post-mortem examination is scheduled to determine the exact cause of death. The Kilinochchi Police and Wildlife officials have launched an investigation into the death of the elephant.

Continue Reading

Trending