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Old October 14th, 2013, 05:25 PM   #1
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COLOMBO | Projects & Construction


Colombo | Projects & Construction

Colombo - Indocean Developers - 65 Fl - Prep


Keells City Project
[IMG]http://t1.************/images?q=tbn:ANd9GcTIcgYMznmaH_b8QQGR_uWv90jWCRqF6vTG1xB_6El_QddYpMNC[/IMG]

Colombo|Queensbury Integrated Resort and Casino| Proposed



Destiny Mall & Residency



Avic Hotel - 50Fl - Proposed


Colombo | EON Resorts | 45 fl | Proposed

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Old October 14th, 2013, 10:38 PM   #2
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oH! it seems there are very nice projects
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Old October 14th, 2013, 11:59 PM   #3
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Nice!
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Old October 15th, 2013, 04:33 AM   #4
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good projects....
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Old December 18th, 2013, 09:55 PM   #5
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COLOMBO | Projects & Construction

Colombo is the biggest city in Srilanka and an emerging metropolis in the South Asian reigion.

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Last edited by desertpunk; December 18th, 2013 at 10:58 PM. Reason: fix title
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Old December 18th, 2013, 09:57 PM   #6
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Currently lots of projects are underway to transform this Strategic Choke-point of Medieval Silk Route into a Modern & much Vibrant Metropolis.


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Old December 18th, 2013, 10:10 PM   #7
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Following the end of the Civil war economy of the City had boomed with an imposing arrival of tourists. Which had paved the way for opening of International Hotel chains in the City. Apartment values had also gone up with high demand from Srilankans abroad with increment in land prices.

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Old December 18th, 2013, 10:35 PM   #8
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$700M+ Under Construction Projects comming up in Colombo

Colombo Port City



Keells Casino


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Old November 22nd, 2014, 10:45 PM   #9
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Hyatt Regency (T/O)
11/6









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Old February 7th, 2015, 02:19 PM   #10
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Sri Lanka’s port funded by Chinese goes ahead
6 February 2015
Shanghai Daily

SRI Lanka’s new government yesterday approved a US$1.4 billion China-funded port city project, an official said.

Ending speculation, the new Cabinet allowed the project to continue after perusing an environmental assessment study done by a local university.

“We are satisfied with the Environmental Impact Assessment (EIA) done by the Moratuwa University,” Cabinet spokesman and Health Minister Rajitha Senaratne said, adding a second EIA would be needed to assess construction once reclaiming land from the sea is completed.

“There is time for that,” he said.

China Communications Construction Co subsidiary China Harbor Engineering Co is handling the construction of the port city, which was started during former President Mahinda Rajapaksa’s tenure.

New President Maithripala Sirisena, who took office last month after an election, named a 27-member Cabinet headed by Prime Minister Ranil Wickremesinghe who had earlier warned the port city would be scrapped if it failed to meet environmental standards.

The port city, sited on 233 hectares of reclaimed land along the iconic coastline of Colombo, will also have Sri Lanka’s first 100-story skyscraper under Phase II, which includes hotels, shopping malls, a golf course and an F1 track.
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Old February 12th, 2015, 06:57 PM   #11
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China Focus: Enterprises charter the maritime silk route

FUZHOU, Feb.12 (Xinhua) -- Chinese enterprises wanting to capitalize on opportunities afforded by the Maritime Silk Route (MSR) have had a rocky start to the new year.

The new Greek government reviewed the sale of a majority stake in the port of Piraeus to China's COSCO Group last month, while an exhibition center project in Mexico backed by Chinese investment was halted.

Chinese enterprises eyeing overseas expansion are concerned that these developments may be signs of things to come.

Despite this, it is not all bad news. Another Chinese enterprise, China Communications Construction Co. Ltd, managed to secure a 1.4 billion U.S. dollar port city project in Sri Lanka's capital Colombo a few days ago after the government threatened cancellation.

SMOOTH SAILING

Companies will be key to ensuring interconnectivity among the countries along the route, said Sameh El-Shahat, CEO of China-i Ltd., a risk management and public diplomacy advisory firm, at an international seminar on the development of the 21st Century Marine Silk Route in southeastern Quanzhou City, where the route will start.

However, are Chinese firms ready to sail through the route's unchartered business waters?

They need to be prepared for more than financial or operational challenges, as social acceptance will be paramount to success, Sameh said.

Unstable investment environment; a lack of sufficient research; inefficient business partners; exclusive competition; and trade and investment barriers will be major hurdles in the key trade and investment destinations along the maritime route, said Xu Ningning, executive president of the China-ASEAN business council.

TIDE IT OVER

When talking about the Colombo project, Zhang Baozhong, executive president of the overseas business department of China Communications Construction Co. Ltd. emphasized that mutual growth and prosperity were integral principles in any overseas project.

It is estimated that the port city program will create 83,000 jobs and 13 billion U.S. dollars of foreign direct investment over the next decade.

China's State Council on Wednesday urged all sectors to improve product and service quality to earn international recognition, which would aid Chinese firms in their quest to "go global".

"The approval of our project is a result of our strict adherence to legal, environmental, social and financial [regulations] to demonstrate feasibility and credibility regardless of the relationship with the local government," Zhang said.

"We are not doing business with government officials, but doing good for society," Zhang added.
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Old March 3rd, 2015, 07:02 PM   #12
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Port deal fears hang over Sri Lankan FM's trip to China
28 February 2015
South China Morning Post Excerpt

Beijing is committed to maritime cooperation with Sri Lanka but insists Colombo to create a positive climate for Chinese investment amid fears over the possible scrapping of a port project led by a Chinese company.

In talks on Friday with Sri Lankan Foreign Minister Mangala Samaraweera, Foreign Minister Wang Yi said the two nations were "all-weather friends" that could withstand domestic and international change.

China and Sri Lanka have had good ties but the relationship has been strained since the new government in Colombo, led by President Maithripala Sirisena, said it would review a US$1.5 billion port city agreement with China signed by the previous administration.

The deal is part of Beijing's efforts to create a "Maritime Silk Road", an initiative to expand sea trade routes but which could also serve strategic purposes.

"China is willing to continue being a trustworthy and reliable development partner," Wang said after the talks. "The two sides believe that no matter how much regional and international conditions may change, and how domestic situations my evolve, the two sides are committed to cherishing their traditional friendship, and will not waver from their commitment to deepening their friendship."

Premier Li Keqiang also held talks with Samaraweera, who is on his first official visit to Beijing, and said that China was willing to work with Sri Lanka to deepen strategic cooperation between the two countries.

"China hopes Sri Lanka will provide an environment conducive to Chinese investment," Li was quoted by state broadcaster CCTV as saying.

Samaraweera said he did not discuss the deal with Wang, adding that other development projects were also subject to review.

He said the government of Sri Lanka would discuss the review findings with China before a final decision on the project was made.

"We want to ensure that in attracting investment, we will always welcome Chinese investment as one of the emerging superpowers in the world," he said.

Last week, Colombo announced a review of the port deal, saying that it had been signed without cabinet approval.

Sri Lankan authorities are also expected to investigate possible corruption over the project.

Under the deal, China Communications Construction would be given 108 hectares of land next to the main commercial port of Colombo, with 88 hectares leased for 99 years.
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Old March 8th, 2015, 08:46 AM   #13
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Xinhua Excerpt
China asks Sri Lanka to protect interests of investors over suspended port project
2015-03-08

COLOMBO - China has urged Sri Lanka to respect bilateral agreements and business contracts, and protect the interests of its investors following the suspension of a multi- billion-US dollar project, the Chinese Embassy said on Saturday.

China asks Sri Lanka to protect interests of investors over suspended port project

At emergency meetings with Sri Lankan Prime Minister Ranil Wickremesinghe and Foreign Minister Mangala Samaraweera, Chinese Ambassador Yi Xianliang also asked the Sri Lankan side to cherish the results of mutually-beneficial cooperation between the two countries, the embassy said.

The Sri Lankan government decided on Thursday to temporarily suspend the Colombo Port City project pending an investigative report ordered by Prime Minister Wickremesinghe. China Communications Construction Company, the Chinese firm involved in constructing the mega port city, had agreed to halt its work on the ground.
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Old March 11th, 2015, 12:47 AM   #14
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Altair Condo, 65floors, Under Construction

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Old March 11th, 2015, 12:53 AM   #15
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Mall In Abans - Proposed - 55 floors

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Old August 16th, 2015, 06:28 PM   #16
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Whatever Sri Lanka's election result, China's back in business
Excerpt

COLOMBO, Aug 14 (Reuters) - Work on a landmark Chinese-backed waterfront development in Colombo could resume after next Monday's general election in Sri Lanka, even if Beijing's preferred candidate for prime minister, ex-President Mahinda Rajapaksa, is defeated.

Eight months after losing power, the 69-year-old strongman is mounting a comeback bid. But his campaign - dogged by allegations of corruption and abuse of power that he denies - is flagging.

The reformist alliance that rallied to elect President Maithripala Sirisena in January remains intact. Pundits say it should secure a majority and can call on the backing of smaller parties if needed.

Although avowedly pro-Western in his outlook, Prime Minister Ranil Wickremesinghe is not about to slam the door on China. Beijing has already pumped billions of dollars into Sri Lanka to build a staging post on its "Maritime Silk Route" to the oil-rich Middle East and on to Europe, its largest export market.

"We want to be a non-aligned investment attraction," Finance Minister Ravi Karunanayake told Reuters in an interview.

Asked what that meant, he joked: "Taking from everybody."

Talks are under way to amend the terms of the $1.4 billion 'port city' project in Colombo. Work on it was halted soon after Sirisena took power as his government investigated whether the Rajapaksa-era deal broke rules and involved corrupt payments.

A compromise that rules out direct Chinese land ownership for the real estate development could help forge an understanding on other projects put on hold this year, he said.

Currently, the port city remains a pile of boulders strewn along the fenced-off shoreline by Colombo's commercial seaport.

But cranes are still working on the Shangri-La hotel, part of Hong Kong-listed Shangri-La Asia Ltd, just along the coastal strip. Construction of the Chinese-funded Lotus Tower, destined to be South Asia's tallest building, continues.

DUAL USE

Locals joke the tower would be the ideal vantage point to mount a surveillance operation from the commercial capital of a nation that, the West had feared, was sliding inexorably into Beijing's arms.

While China denies building a listening post, one Western diplomat said that some Chinese-built infrastructure in Sri Lanka has been designed for 'dual use' - meaning it could serve both military and civilian purposes.

That includes Colombo's commercial seaport, where two Chinese nuclear submarines and a warship have docked, alarming Sri Lanka's big neighbour India.
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Old October 23rd, 2015, 07:54 PM   #17
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Sri Lanka looking towards China to buoy sinking port
12 October 2015
South China Morning Post Excerpt

Sri Lanka’s new leaders are banking on Chinese investment to revive a port project that became a symbol of the previous government’s excesses bankrolled by China.

Situated at the southern tip of the strategically located Indian Ocean nation, Hambantota gained notoriety as a port without ships and was the butt of opposition criticism of then Sri Lankan president Mahinda Rajapaksa’s tendency to throw Chinese money at vanity projects allegedly in order to line his pockets.

Following Rajapaksa’s ouster in January’s presidential election, the new government first toyed with the idea of turning the port into a ship-breaking yard, before deciding to make it a dockyard.

“We have US$1.5 billion sunk in the project and no revenue. We need to make use of it. We want Chinese investors to come and help turn it into a dockyard as well as invest in an industrial park there,” Deputy Minister of Foreign Affairs Harsha de Silva told the South China Morning Post in an exclusive interview.

Among Sri Lanka’s leading economists, de Silva has been put in the foreign ministry to drive economic diplomacy in the national unity government put in place after parliamentary elections in August.

“The Chinese have expressed interest in the project. Hopefully things will start moving after Colombo Port City is sorted,” he said, alluding to a stalled Chinese-funded real estate reclamation project in the Sri Lankan capital that has become a bone of contention between the two countries. The new government has shelved the project, making China wary of investing in the South Asian country.

The Sri Lankan cabinet has approved a plan by China Harbour Engineering Company (CHEC) to do a feasibility study to build the Hambantota dockyard. CHEC has also proposed to manage and operate the dockyard.

Hambantota is among the many big-ticket infrastructure projects China funded during Rajapaksa’s rule. Sri Lanka is estimated to have received up to US$5 billion from China in the form of aid, soft loans and grants in the past six years. Nearly 70 per cent of the infrastructure projects in the country have been funded by China and built by Chinese companies.

Funded by a Chinese loan of US$316 million in 2010, the port received just six ships in 2011 and 18 in 2013. Traffic picked up thereafter partly due to government incentives. But the port that was touted as a competitor for Singapore has continued to bleed the government, drawing opposition fire for wasting public money on projects that only helped China. Now in power, the anti-Rajapaksa forces are also looking for Chinese funding but in a different way.

“China is a big source of project funding the world over. There is no denying that,” de Silva said. “But we want Chinese funds as investment, not loans. The loans we have been taking from the Chinese are taking a toll on the government. More than a third of our tax revenue goes into loan servicing.”
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Old November 18th, 2015, 08:58 AM   #18
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Sri Lanka likely to re-start China funded mega port city project by early next year
Excerpt

COLOMBO, Nov. 16 (Xinhua) -- The Sri Lankan government is likely to give its nod to re-start a stalled multi billion dollars China funded port city project in the island nation by early next year, one top official of Sri Lankan government told Xinhua on Monday.

The official said that currently the Sri Lankan government was conducting high level discussions with the Chinese government over the status of the Chinese projects in Sri Lanka and the Sri Lankan government is likely to give its approval for the Port City project by February.

The 1.4 billion U.S. dollars Colombo port city project funded by the China Communications Construction Company Limited was suspended by Sri Lanka government in March after concerns were raised over some aspects of the project.

The construction of the project began in September last year and is set to attract billions of dollars as investments once completed.

The official said that the necessary documents including the Environmental Management Plan have already been submitted to the Sri Lankan government and the documents are currently under review.

"All the necessary documents have been submitted and the government is likely to start the project by February," the official said.
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Old March 16th, 2016, 04:42 PM   #19
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China's CCCC to resume Sri Lanka port project after 1-year suspension

COLOMBO, March 15 (Reuters) - China's CCCC said on Tuesday it had approval to restart the construction of its $1.4 billion real estate project near Colombo's port that was suspended a year ago on the orders of the Sri Lankan government.

Sri Lanka's cabinet last week granted approval for China Communication Construction Company (CCCC) to resume the biggest foreign direct investment project in the country after suspending it in March last year.

The project includes apartments, shopping malls, a water sports area, a golf course, hotels and marinas next to Colombo's main port which India uses as a main transhipment port.

"With the resumption of work now approved, the project company will commence with preparatory work as soon as feasible to ensure that the project can be completed in the expected time frame," CHEC Port City Colombo (Pvt) Ltd, which handles the project for CCCC, said in a statement.

It said the suspension had resulted in significant losses. CCCC had estimated in March last year that the shutdown would result in losses of more than $380,000 a day.

The Sri Lankan government has conducted additional environmental impact assessments to understand the project's impact and to study mitigation measures, the company said.

When President Maithripala Sirisena's government suspended the project, it cited various irregularities including a lack of proper permits and approvals.

India had raised concerns over CCCC taking ownership of 20 hectares of land under an earlier agreement.

However, the government said later it would only give any land to the Chinese company on a 99-year lease.

A cabinet paper submitted by Prime Minister Ranil Wickremesinghe last week said there were some issues still to be resolved including the lease, total extent of reclaimed land, and compensation due to the suspension.

The original deal involved 269 hectares of land being reclaimed, including 108 hectares assigned to the Chinese investor, of which 20 hectares was granted on a freehold basis.

The government, however, wants to reduce the land area allocated to the project to reduce the environmental impact.
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Old December 4th, 2016, 09:07 AM   #20
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How China-Sri Lanka relations are getting new wings
South China Morning Post Excerpt
3 December 2016

...

The new government set out by putting on hold several projects it saw as Rajapaksa’s white elephants bankrolled by China. But need for Chinese investments and a crushing debt burden – created partly by billions of dollars of Chinese loans for infrastructure projects – has softened the government’s initial anti-Chinese stance.

Work on US$1.4 billion Colombo Port City, a development project off Colombo, among the first projects the government pulled, recently resumed after protracted negotiations. “There is no financial hub between Singapore and Dubai. Colombo Port City will fill that void,” Wickremesinghe said.

The government has also decided to give 80 per cent of Hambantota deep sea port on a Hong Kong-style 99-year lease to China Merchants Holdings for US$1.1 billion. Built and financed by the Chinese, this US$1.5 billion port has been a commercial failure, getting hardly any ships.

For the Chinese, Hambantota and a Colombo port terminal, also built by China Merchants, are among the main attractions of Sri Lanka – which sits bang in middle of the principal east-west sea lines of communication connecting China to the main oil exporters in the Middle East and Africa. That makes Sri Lanka a key component of China’s ‘One Belt, One Road’ strategy of integrating the regional economy through infrastructure development.

Leasing the port, which alone has been costing US$147 million a year in debt repayment, will help ease the external debt load of US$64.9 billion.

More : http://www.scmp.com/week-asia/geopol...ting-new-wings
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