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Water Sports Area News

15 Mar 2016

CCCC to Resume Sri Lanka Port Project After Suspension

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…

05 Feb 2015

Sri Lanka Backs China Port City Deal After Threat to Cancel

Sri Lanka's cabinet said on Thursday it would allow a $1.5 billion "port city" deal with China to go ahead, apparently dropping its earlier threats to cancel the project, approved by the last government. Cabinet Spokesman Rajitha Senaratne said new President Maithripala Sirisena would however discuss with Beijing controversial arangements over the freehold of land to be used, when he visited China in March. Sri Lanka's neighbour India has raised concern over security threats posed by Chinese ownership of the freehold of 20 hectares of land next to the main commercial port in Colombo, as India is a major user of Colombo as a transshipment port.

22 Jan 2015

Sri Lanka Softens Stance on China Port City dealD

Sri Lanka's new government said on Thursday it might renegotiate a $1.5 billion "port city" deal with China Communications Construction Co Ltd, softening its pre-election threat to scrap the project. New Prime Minister Ranil Wickremesinghe, before last month's presidential vote, said he would cancel the port deal if his party came to power. Maithripala Sirisena, backed by Wickremesinghe's party, unseated ex-president Mahinda Rajapaksa at the polls. "We can renegotiate with China after reassessing the deal," Cabinet Spokesman Rajitha Senarathne told reporters. "We need to see the feasibility study. He said the current government had not seen any EIA or feasibility study of the project and it needed to be re-assessed because of impacts on coastal erosion.

17 Dec 2014

Sri Lanka Opposition Vows to Scrap China Port Deal if Wins Election

A leader of Sri Lanka's opposition said he would scrap a $1.5 billion deal with China Communications Construction Co Ltd to build a port city if the challenger to President Mahinda Rajapaksa wins next month's election. Chinese President Xi Jinping launched the project, which will be built on reclaimed land in the capital, Colombo, when he visited in September. Opposition parties say that some infrastructure deals struck by Rajapaksa's government, which has become heavily dependent on China for infrastructure, did not follow appropriate tender procedures and were not transparent. Although still popular and likely to win a third term, Rajapaksa is facing a stiffer challenge than expected in the Jan.