Chinese company welcomes Govt. approval for Port City work

Wednesday, 16 March 2016 00:00 - - {{hitsCtrl.values.hits}}

CHEC Port City Colombo Ltd., the project company for the Colombo Port City, yesterday acknowledged the announcement by the Government on the resumption of work, which had been suspended for over a year.

Releasing a statement, the project company recognised this positive step in moving forward, and appreciating the efforts of the Government in working towards a mutually beneficial solution.

The announcement follows a one-year suspension of the project. “During this time the project company co-operated with the Government by consulting various authorities and complied with their requests.”

“The Government also conducted the Supplementary Environmental Impact Assessment (SEIA) which was done to understand and fully assess the project’s impacts and mitigation measures in developing a comprehensive plan to maximise the benefits to the country,” it added.

The project company noted it regretted the suspension and the lengthy process taken to resume work, which it insisted has resulted in significant losses to both the project company and the Government.

“This is a result of the huge financial and resources commitment that is required for a project of this scale.”

With the resumption of work now approved, the Project Company will commence with preparatory work as soon as feasible to ensure that the project can be completed in the expected timeframe.

The Project Company reiterated as a responsible corporate citizen, it had been and would always continue to be compliant with all existing laws and regulations in the country.

“CHEC looks forward to contribute positively towards Sri Lanka’s economy and to Government efforts in improving the livelihood of all Sri Lankans.”

The green light for the project comes ahead of a visit to China by Prime Minister Ranil Wickremesinghe. Cabinet last week approved the recommencement of the project. The Government has insisted it would address any environmental consequences of the port city following the formation of a joint venture with the Chinese company.