Planned investment amounting to Rs2b:
Four major megapolis projects approved
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
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.