Planned investment amounting to Rs2b:

Four major megapolis projects approved

By Chandani Jayatilaka

Western Region Megapolis Planning Project Chairman, Ajita de Costa

Four major development projects with planned investments of at least Rs 2 billion have been approved by the Megapolis project team for implementation, Chairman, Western Region Megapolis Planning Project, Ajita de Costa told the Sunday Observer.

The four projects identified by the team are: an elevated road system into metropolitan Colombo, a multi-modal commercial hub in Pettah, Colombo, an industrial zone in Mirigama and a comprehensive flood retention control system for the Kelani River.

“The four projects are ready for implementation and the next step would be to advertise the projects for investments,” de Costa said. The Cabinet appointed procurement committees will fast-track the investment process. The overall project costs are likely to be met with a mix of private and public investment.

Under the Megapolis master plan, Mirigama and Horana were proposed to be developed as industrial cities, as part of the overall drive to enhance the manufacturing component of the national economy, while generating direct and indirect employment opportunities. This will also lead to relocation of some of the existing industries.

The industrial zone at Mirigama is expected to be developed as a specialized zone for food processing, largely export-oriented, and based on the diverse variety of Sri Lankan and regional foods, thereby emerging as an important centre on the Asian culinary map.

The new industrial area will cover several small towns and villages in the Mirigama area and is expected to generate 35,000 new employment opportunities.

The ‘multi modal hub’ in Pettah envisages the development of a modern transport hub in Pettah, development of a unique shopping district along the Beira Lake utilizing the adjacent Sri Lanka Railways land, as a major landmark in downtown Colombo. Other components of the Pettah hub will be an entertainment district on the other side of the Beira Lake as another destination in downtown Colombo, a cruise centre at the old Colombo port area linking the new shopping district, the Fort heritage district and the Pettah bazaar district and, development of a commercial centre for all forms of Innovations with commercialization potential.

The Megapolis master plan also highlights the need for preserving natural flood retention areas within the planned sectors during the implementation of the master plan. This is to prevent encroachment of future real estate developments into these areas.