Govt. to review Chinese-funded Lotus Tower project

Monday, 16 March 2015 02:44 -     - {{hitsCtrl.values.hits}}

The Government, which is currently in the process of reviewing large-scale projects launched by the previous regime, is to review the Lotus Tower project in Colombo. Ports and Aviation Minister Arjuna Ranatunga has told reporters that a review is sought on the Chinese funded Lotus Tower project that is already under construction. The Minister has said that Sri Lanka does not need a tower like the Lotus Tower.   The Minister has sought a meeting with President Maithripala Sirisena to discuss the project and seek a review. According to Ranatunga, the tower has been constructed on land which belongs to the Sri Lanka Ports Authority (SLPA) without following the proper procedures.   The 350-meter free-standing tower with a four-storey high podium will be South Asia’s tallest tower. The tower is being constructed on 3.06 hectares of land situated between the Eastern Beira Lake and D.R. Wijewardena Mawatha in Colombo. A Chinese conglomerate comprising China National Electronics Import and Export Corporation (CEIEC) and Aerospace Long-March International Trade Co. Ltd. (ALIT) were to complete the project on a Turnkey Basis. The tower was proposed to be used for communication, observation and other leisure facilities. The project is estimated to cost $ 104.3 million, funded by China’s EXIM Bank.