Written by Staff Writer
25 Oct, 2017 | 10:33 pm
Land reclamation for the Colombo Port City Project is 50% complete, said Minister of Megapolis and Western Development, Patali Champika Ranawaka.
The Minister said the project is in effect ahead of its planned duration.
2014 – The Colombo Port City Project began construction following an agreement during the previous administration.
2015 – With the change in government on January 8 – the agreement was reconsidered.
2016 – A trilateral agreement was signed.
According to the Ministry, the 2016 agreement “gained Sri Lanka more benefits than the agreement signed in 2014”.
The initial agreement was to sell a 20 hectare land area of the Port City to China while the rest will be given on a 99 year lease.
Through the new agreement, the sale of 20 hectares has been taken out and the whole land will be given on a 99 year lease.
Therefore, following the end of the lease period, Sri Lanka will claim full ownership of these lands.
According to Min. Ranawaka;
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