In The Press
Port City - New legislation to provide titles for lands
The government has gazetted the Port City landmass which will be a part of the Colombo district and it will come up with new legislation to provide titles for land under the project for investment, Minister of Megapolis and Western Development Patali Champika Ranawaka told guests at the opening of ‘Sri Lanka Buildcon and Wood International Expo 2019’ at the BMICH on Friday.
He said there has been keen interest by investors across the globe, in investing in the port city which will be one of the smartest cities in the region.
“Work on the project will go ahead without any hindrance meeting its timelines for completion of each stage despite whatever political situation that may unfold in the future,” the minister said.
Land reclamation work on the project which is known as the Colombo International Financial City (CIFC) was completed early this year, and according to the minister work on other stages of the project will go ahead as usual.
Work on the US$ 1.4 billion project commenced in 2014 - to reclaim 269 hectares of ocean and is said to have changed the country’s geographical landscape.
With regard to the Light Rail Transit (LRT) project that kicked off this year, the minister said all feasibility studies on the project have been completed and work will commence next year. The US$ 2.2 billion project aimed at modernising transportation is due to be completed by 2025.
“Events such as the Buildcon exhibition which attract stakeholders from across the world paving the way for business opportunities, support the country’s efforts to rebuild the economy,” the minister said, adding that the construction industry is a core area of the economy.
High Commissioner of India to Sri Lanka, Taranjit Singh Sandhu said Sri Lanka’s skyline has changed from what it was 20 years ago with many high rise buildings and commercial establishments.
He said the trade exhibition is an occasion for Sri Lanka and India to explore business opportunities. The construction industry in India is a trillion dollar business from which Sri Lanka could benefit. There are many India companies in Sri Lanka bringing in technology and ‘best practices’. Similarly many Sri Lankan companies operate in India.
“Infrastructure is a key factor in driving economic growth. However, it should not be at the expense of undermining the environment. We must keep in mind what was said by renowned local architect Geoffrey Bawa - that infrastructure development must seamlessly blend with the environment,” the High Commissioner said, adding, “We need to build a new world but mindless construction should not be endorsed.”
He said, be it drought or floods, India has always been a close friend of Sri Lanka, extending a helping hand.
The Indian Prime Minister was the first Head of State to visit Sri Lanka after the Easter Sunday attacks. Jihadist ideologies must be exposed and isolated.
The three-day expo which kicked off on Friday, features an international conference for interior and exterior developers and a conference on infrastructure development in Sri Lanka. It concludes today.