China to build $1.4 bn island city in Indian Ocean

Discussion in 'Subcontinent & Central Asia' started by Kito, Aug 7, 2013.

  1. Kito

    Kito Regular Member

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    COLOMBO (AFP) – Sri Lanka has signed a deal with a Chinese company to build a $1.4 billion city complex on reclaimed land near the harbour of the capital Colombo, an official said Wednesday.

    The state-run Sri Lanka Ports Authority (SLPA) will reclaim 230 hectares (568 acres) next to the new Colombo South port, said SLPA chairman Priyath Bandu Wickrama.

    He said the SLPA finalised a deal under which China Communications Construction Company Limited (CCCC) will invest $1.43 billion to build a "Port City" that will change the coastline in the capital.

    "We are moving towards the sea to reclaim land and build a mini city," Wickrama said during a visit to the port.
    "We have finalised the deal with CCCC and construction will begin by September. We hope to complete the land reclamation within 39 months," he added, without saying when the deal was struck.


    He said the SLPA planned a new 22-floor headquarters, hotels, apartments and recreational activities on the reclaimed land. The CCCC will be given 50 hectares (123 acres) of the land on a 99-year lease.

    Several international hotels, including Hong Kong-based Shangri La are building hotels in Sri Lanka to cash in on the island's post-war growth after troops crushed Tamil rebels and ended 37 years of ethnic war in May 2009.

    Chinese companies have emerged as key infrastructure partners and have already built air and sea ports, highways and railroads in the Indian Ocean island, which is strategically located along East-West trade routes.

    The first phase of a $500 million container port next to the main Colombo harbour is due to open next month and bring Sri Lanka on a par with port facilities in Singapore and Dubai, Wickrama said.

    China Harbour Engineering will have control over the new Colombo South Harbour for 35 years and it will compete with the existing state-run facilities as well as privately-owned container terminals within the large Colombo port.

    Wickrama discounted fears that China was throwing a "string of pearls" or a geographical circle of influence, around the regional superpower India. He said Sri Lankan ports would not be allowed to engage in any military activity.

    "For us, it is purely a commercial interest to develop our ports. We will not allow any military base at our ports nor will we allow them to be used for any strategic military purpose," he added.


    Read more: Chinese firm to build $1.4 bn Sri Lanka 'port city' | Fox News


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    amoy likes this.
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  3. roma

    roma NRI in Europe Senior Member

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    sure !

    - it's the economy ! ....... again !

    that's the ONE and only thing our bullock-cart mentality political institutions need to understand - and,

    they seem to be taking their own sweeeet time about it !

    nothing particularly innovative about what prc-lizard is doing - EXCEPT - that they have the economy and so the $$$ to do it !

    can we afford to lag behind for much longer ?
     
  4. Kito

    Kito Regular Member

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    Here is the "Colombo Port City" project

     
    Last edited by a moderator: May 10, 2015
  5. amoy

    amoy Senior Member Senior Member

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    Just a matter of time for Colombo to be like this
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  6. mattster

    mattster Respected Member Senior Member

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    Indians need to understand that China wins these deals because of sweet financing by China's government or quasi-govt agencies.

    Indian private companies acting alone would never win these types of contracts.
    The Chinese are taking a page out of a Japanese manual......Japan used to finance huge infrastructure projects where they build and also supply everything.
    You cant play this game unless you have a lot of extra cash sitting around.
     
  7. nimo_cn

    nimo_cn Senior Member Senior Member

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    i am pleased to see Chinese companies being deeply involved in the process of building a properous Sri Lanka.

    Sent from my HUAWEI T8951 using Tapatalk 2
     

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