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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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    Port City Project: Chinese company supports SL review

    sashimaal
    sashimaal
    Top contributor
    Top contributor


    Posts : 5785
    Join date : 2014-02-28

    Port City Project: Chinese company supports SL review Empty Port City Project: Chinese company supports SL review

    Post by sashimaal Thu Jan 22, 2015 12:16 am

    Amid various allegations and moves to stop the Colombo Port City Project, the China Communications. Construction Company Limited (CCCC), which is the project proponent, said yesterday it would extend its fullest cooperation to the Sri Lankan Government and the relevant authorities.

    The CCCC said it would provide all necessary information according to relevant regulations for the purpose of assessing and reviewing the Project.

    The Colombo Port City Project was undertaken after several initiatives and attempts by different prospective project proponents, to develop a waterfront property in the City of Colombo.

    The first attempt was made by the Singaporean company CESMA in 1998 on an initiative of the Singaporean Government to study the 'Colombo Metropolitan Regional Structure Plan. The final plan published on 2004, developed by the Sri Lankan and Singaporean team, proposed a Western Region ‘Megapolis’ by 2030. However, the concept plans could not be implemented due to the vast cost in building the breakwater in deep water to protect the reclaimed land. The Port City became financially feasible only when the breakwater was integrated with the Colombo Port Expansion Project.

    Ranked 187th in 2014 among the ‘Fortune Five Hundred’ companies in the world, CCCC as a responsible corporate, reiterates that all necessary procedures were followed in the initiation of the project.

    CCCC has sought the expertise of internationally reputed development consultancy firms such as AECOM (America’s premier fully integrated infrastructure and support services firm), ATKINS (Globally recognized UK based design engineering and project management consultancy), SWECO (Nordic region’s leading consulting engineering company in sustainable engineering and design), JLL (US & India’s Professional Services and Investment Management Company specializing in real estate services), Pinsent Masons (UK) and PWC (US).

    Further, prior to CCCC undertaking the development of the project in 2010 an initial Technical Feasibility Study and Environmental Impact Assessment (EIA) of the Project was performed by the University of Moratuwa, under the directive of the Sri Lanka Ports Authority. The Technical Feasibility Study was subsequently approved by the Sri Lankan Government and the Environmental Impact Assessment was published for the public benefit.

    Once public inquiries were answered, the Environmental Impact Assessment was approved by government-approved agencies. Additionally, an Environmental Management Plan (EMP) was submitted by CCCC and approved after monitoring the project’s environmental and coastal impact, as per the requirements of the Environmental Impact Assessment.

    The total duration of the process from submitting the proposal to signing the agreement, extended to four years, to make sure that all procedures of the Government’s procurement regulations were followed.

    CCCC is committed to support the Sri Lankan Government’s vision of making the country a gateway to South Asia.

    Spanning 233 hectares, the Colombo Port City is currently the single largest private-sector development project in Sri Lanka’s long, rich and storied history. The Colombo Port City will add strong economic pillars to the country’s existing development plans to make it a viable investment destination in South Asia.

    The project aims to create 83,000 new employment opportunities within different sectors, attract US$$13 billion in foreign investments from investors and developers across the region like India, Singapore, Malaysia and China and increase the number of tourists visiting the country during the next 30 years.

    CCCC, as a responsible corporate citizen, is fully committed to fulfilling its enterprise responsibilities through due diligence, help develop the country’s economy and communities, share common interests and goals, and contribute to the sustainable growth of the country.

    See more at: http://www.dailymirror.lk/61825/inese-company-supports-sl-review?utm_source=twitterfeed&utm_medium=facebook#sthash.sghO1CY6.dpuf

      Current date/time is Wed Jun 19, 2024 11:39 pm