Port City awaits instructions from Government

CHEC Port City, a subsidiary of China Communication Construction Company (CCCC) and the project company of the Colombo Port City states in a media release that the Government is yet to invite the company for a discussion or issue a directive to the company regarding the project review process, which is currently underway.

The Project Company has called for an opportunity to express its concerns regarding the temporary suspension to the Government appointed Review Committee, and is willing to fully corporate with the committee during the review process.

The project company complied with the suspension notice issued on March 6, 2015 immediately and as per the directive given by the Government, submitted copies of all permits and approvals within two working days.The company notes the permits and approvals were originally issued by the relevant competent authorities of the Government and the Sri Lanka Ports Authority (SLPA), clearly directing the company to commence reclamation work of the Colombo Port City.

In keeping with the agreement signed between the company and the Government, the responsibility for securing approvals and permits relating to the project is vested with the Government and SLPA, while the commercial risk of the project is absorbed by the company, as the total project development cost of approximately US $ 1.4 billion, will be invested by the company. As such, the commissioning of the Environmental Impact Assessment (EIA) study and other permits and consents, in keeping with the agreed Public-Private Partnership (PPP) structure of the project, were secured by the SLPA and was then referred to the company. SLPA engaged with the University of Moratuwa, to conduct the EIA. The company awaits the opportunity to clarify details and provide necessary information to the Project Review Committee.