November 22, 2024 6:04 am
Results: 33
Colombo Port City: What You Need To Know In A Nutshell and More
(Feature) Clinching a top priority in the not-very-short list of development projects in Sri Lanka, the Colombo Port City has, indeed, been nudging its way into the limelight. Unsurprisingly, the project has its costs and benefits as well as the arguments that come along with the venture. But how does the new project vary from the old? MORE.....
Lack of transparency in Chinese contracts were the concern – Harsha
Our major concern was the lack of transparency with the way infrastructure projects were originally awarded to the Chinese, Deputy Minister Foreign Affairs Harsha Desilva said in an interview. Speaking to Finance Asia he added that where we could, we were able re-negotiate and restructure the contracts to bring the overall costs down. MORE...
Port City will be eco-friendly - CHEC
The China Harbour Engineering Company (CHEC) says that according to the recently released Supplementary Environmental Impact Assessment (SEIA) report, the Colombo Port City (CPC), upon completion of reclamation works, will incorporate solutions for integrated management of energy, water and waste for long‐term environmental sustainability... MORE.
Port City can resume tomorrow if Chinese firm agrees to leasehold - Ravi
Finance Minister Ravi Karunanayake says that the Sri Lankan government is prepared give the go-ahead for the Colombo Port City project to resume even tomorrow, if the Chinese company agrees to begin the US$1.4 billion project on a 99-year lease. MORE.
China seeks to rebuild Silk Road trade links
China is increasingly engaging other countries for its ‘One Belt, One Road’ initiative to rebuild the historic Silk Road which begins in Fuzhou, China and goes via Vietnam, Indonesia, Bangladesh, India, Sri Lanka, the Maldives and East Africa to build trade links with Europe, Asia and Africa. MORE...
Govt at risk of claims by Chinese port city project - document
Sri Lanka would be exposed to the risk of claims from the firm managing a suspended Chinese-backed real estate project if the government fails to obtain approvals needed by the project within 60 days, a government document showed on Thursday. MORE..
Sri Lanka softens stance on China-backed port project
Sri Lanka is offering a compromise that could allow a major Chinese-backed real estate project to restart after months of delays, Finance Minister Ravi Karunanayake told Reuters on Monday. MORE...
No pressure from India on Port City project - govt
The Sri Lankan government has denied reports that the Indian government is exerting pressure on it to stall the $1.4 billion Colombo Port City Project. MORE..
India wanted Sri Lanka to stop Colombo Port City – Gotabaya
Former Defence Secretary Gotabaya Rajapaksa says that India’s National Security Advisor had requested the former Sri Lankan government to stop the Chinese-funded Colombo Port City project as it would pose a threat to that country’s security. MORE..
We don’t know who to believe now – Rajapaksa
Former President Mahinda Rajapaksa says that certain members of the government who had accused him of corruption in the constructing of the Colombo Port City project, during the Presidential Election, are now saying no such thing has taken place. MORE..
Sri Lanka fires fresh salvo at Chinese firm
The Chinese company involved in the controversial US$1.4 billion Colombo Port City project has failed to furnish the necessary documents within the two-week deadline set by the new government, which is also reviewing other Chinese projects including a high-profile telecommunications tower, Sri Lanka’s finance minister said. MORE..
China offers Sri Lanka olive branch and warnings
President Xi Jinping worked to mend relations with Sri Lanka on Thursday as Chinese state-run media warned the island nation’s new government against shutting off billions in investments from Beijing, AFP reports. MORE...
Sirisena meets China’s President amid new look at ties
Sri Lankan president Maithripala Sirisena has held talks with Chinese leader Xi Jinping amid efforts to recalibrate his predecessor’s strongly pro-China policies. MORE..
President Sirisena leaves for Beijing
President Maithripala Sirisena today left for Beijing commencing a four-day state visit on the invitation of Chinese President Xi Jinping. MORE..
Sri Lanka call for US $ 1.4b Chinese project to continue
Ahead of Sri Lanka President Maithripala Sirisena’s first visit to China a local organisation called for China’s largest investment project to resume, an official said on Tuesday. MORE...
Port city issue should not hinder bilateral ties: China
Chinese Assistant Foreign Minister Liu Jianchao says that the temporarily suspended port city development should not hinder the strengthening the friendly relationship between Sri Lanka and China. MORE...
Will Chinese investors quit if Port City comes to a standstill?
The temporary suspension of the Port City project in Colombo has put lot of Chinese investors in uncertainty regarding the Sri Lankan investment policy. MORE..
Government grants approval to construct breakwater of Colombo Port City
Sri Lanka’s cabinet on Wednesday approved the construction of a breakwater for a Chinese funded port city project which had been suspended by the government earlier this month. MORE...
Chinese PM to discuss suspended project with the President
Chinese Prime Minister Li Keqiang is likely to have friendly discussions with President Maithripala Sirisena who is scheduled to visit China later this month and negotiations with respect to the suspended Colombo Port City Project (CPCP) will be a high priority topic, Ada Derana learns. MORE...
China urges Sri Lanka to protect interests of investors
China on Tuesday urged Sri Lanka to protect the interests of Chinese investors and promote bilateral economic ties following the suspension of a China-funded port project in Colombo. MORE...
Sri Lanka-China tensions rise over suspended port project
The Sri Lankan government’s decision to review, and in effect suspend, the $US1.4 billion, Chinese-backed Colombo Port City (CPC) project has strained relations between Beijing and Colombo. MORE...
‘If this is good governance, then god bless Sri Lanka’
Former President Mahinda Rajapaksa says that politicians have now started to say things which should be said by the IGP or Attorney General and that politicians are the ones announcing who will be remanded, who will be arrested and within how many days. MORE..
Sri Lanka is not anti-China but mainland firms won’t get ‘carte blanche’: Ravi
Sri Lanka’s new leadership is not targeting China and only wants its help to fight corrupt deals orchestrated by the last government, the island nation’s finance minister said, even as he ratcheted up rhetoric against Chinese companies he said were once given “carte blanche” in his country. MORE...
China asks Sri Lanka to protect interests of investors
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-U.S. dollar project, the Chinese Embassy said on Saturday. MORE...
Chinese firm confirms suspension of Colombo Port City project
China Communications Construction Company Limited (CCCC), the ultimate investor in the Colombo Port City Project, says that it will fully cooperate with the Government of Sri Lanka and continue to adhere to the procedures and conditions stipulated in the agreement entered into with the government. MORE..
Colombo Port City project suspended
The cabinet has decided to suspend the Colombo Port City project temporarily, Cabinet Spokesman Rajith Senaratne said. MORE...
Protest against Colombo Port City causes traffic jam
Severe traffic congestion has been reported around York Street Fort in Colombo due to a protest against the Colombo Port City Project by environmental groups, police said.
China says Sri Lanka loans made “based on consensus”
China’s loans to Sri Lanka were made based on consensus through talks between the two countries and at Sri Lanka’s request, the Chinese Foreign Ministry said on Monday, after Sri Lanka’s foreign minister expressed concern about the loans. MORE...
Sri Lanka says China to be consulted on any project re-think
Sri Lanka will not make any decision on Chinese projects it is reviewing until it consults China, Sri Lanka’s foreign minister said on Friday, pledging that his new government would welcome Chinese investors. MORE..
Sri Lanka says China port city broke rules
Sri Lanka’s prime minister said on Wednesday a $1.5 billion luxury real estate deal with China was signed without cabinet approval and without following procedures, and launched a new investigation to uncover any corruption. MORE...
China official says Colombo Port City project going ahead
The China-funded port city project in Colombo was going ahead, a top Chinese official from the company executing it said Wednesday, days after the new Sri Lankan government claimed the deal was still being assessed. MORE..
China welcomes decision to go ahead with Port City Project
China today welcomed new Sri Lankan government’s decision to go ahead with the controversial USD 1.5 billion Colombo Port City project funded by it, calling the country an important partner in implementing its mega Maritime Silk Road project in South Asia. MORE..
Sri Lanka to go ahead with China-backed Port City Project
The Cabinet has decided to continue with the Chinese-assisted Colombo Port City Project, cabinet spokesman Dr. Rajitha Senaratna said today. MORE..