ECONOMYNEXT – Sri Lanka’s Minister for Local Government Vajira Abeywardene tabled a motion in parliament to add 446 hectares of land reclaimed by China to the land area of the island.
The reclaimed land named ‘Port City’ will form part of the Divisional Secretary of Colombo, he said.
The land was reclaimed by CHEC Port City, a unit of China Communications and Construction Corporation.
The land is shared between Sri Lanka and CHEC who will progressively sell blocks of land to recover the investment.
CHEC is investing 1.4 billion US dollars to reclaim the land.
Sri Lanka’s current administration halted the project and ended a clause that was to give a part of the land on a free hold basis.
Minister Harsha de Silva has said in parliament that the block was to have a ‘sovereign right.’
Opposition legislator Wimal Weerawansa said 116 hectares had been given on a 99 year lease which can be renewed for another 99 years instead of free hold. (Colombo/July23/2019)