Two MOUs with China to build complex in Port City, underground Marine Drive | Page 15 | Daily News

Two MOUs with China to build complex in Port City, underground Marine Drive

Extending the Tripartite Agreement signed among the Ministry of Megapoli and Estern Development, Urban Development Authority and CHEC Port City Colombo, two MoUs were signed in Beijing over the funding of the Colombo International Finance City (CIFC) Building Complex on the reclaimed land of the Colombo Port City Development Project and the Underground Marine Drive Tunnel connecting the Airport Highway and the Marine Drive at Kollupitiya.

These two MoUs were signed in the presence of Minister of Megapolis & Western Development Patali Champika Ranawaka, Ambassador of Sri Lanka in China Dr. Kodituwakku, Vidya Amarapala, Senior Advisor to the Minister of Megapolis and Western Development, Project Director of the Port City Project and Jiang Houliang, Managing Director of CHEC Port City Colombo Ltd., Nihal Fernando.

It was observed that 60% of the reclamation work on the Port City and the breakwater construction, had already been completed and that the reclamation and construction of the breakwater would be completed by June 2019.

The Chinese investment company indicated their willingness to invest a further US$ 100 billion for the construction of the first building complex on the reclaimed land.

According to the provisions of the Tripartite Agreement, the Ministry of Megapolis and Western Development made a request to the project company to look into the possibility of further investing on a BOT basis to connect the elevated airport highway from Chaithya at the A1 Gate of the Colombo Harbour to the Marine Drive at Kollupitiya. Preliminary investigations have indicated that the road connection had to be implemented as an underground tunnel connection.

The Cabinet has approved the signing of these two MOUs.

With the construction of the underground tunnel connection, the Galle Face Green will be further extended towards the sea as a public facility. 


 

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