A multi-billion dollar ‘Colombo Mega-port City’ project is likely to be given the go-ahead by the Sri Lankan government, after it was stalled earlier this year, and is now set to be completed by February, 2016, according to Chinese state news agency Xinhua.
The port city is expected to attract billions of dollars of investment once completed.
An official was reported as saying that the paperwork is currently being reviewed, with documents such as the Environmental Management Plan recently submitted to the Sri Lankan government.
The official said: “All the necessary documents have been submitted and the government is likely to start the project by February.”
Rajitha Senaratne, Cabinet Spokesperson for Sri Lanka, has said that the cabinet agreed to appoint a new committee to address the issues of the port city project, after a recommendation was made by Arjuna Ranatunga, Ports and Shipping Minister for Sri Lanka.
Rajitha Senaratne said: “We want to overcome these issues so that we can continue with the project. We hope to sort all these issues within the coming six months.”
The Sri Lanka Ports Authority received funding for the project back in 2011, and the city will be built on reclaimed land next to Colombo Port.
Further port business-related business is due to take place alongside the project within the authority’s 99-year lease.