360° Coverage : Sri Lanka to sign $2 bn worth investment deals

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Sri Lanka to sign $2 bn worth investment deals

Nov 14 2013, 8:16am CST | by IANS

Colombo, Nov 14 (IANS) Sri Lanka is set to sign investment deals worth $2 billion on the sidelines of the Commonwealth summit here Thursday, an official said.

Colombo, Nov 14 — Sri Lanka is set to sign investment deals worth $2 billion on the sidelines of the Commonwealth summit here Thursday, an official said. Investment Promotion Minister Lakshman Yapa...

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37 weeks ago

Sri Lanka to sign $2 bn worth investment deals

Nov 14 2013, 8:16am CST | by IANS

Colombo, Nov 14 (IANS) Sri Lanka is set to sign investment deals worth $2 billion on the sidelines of the Commonwealth summit here Thursday, an official said.

Colombo, Nov 14 — Sri Lanka is set to sign investment deals worth $2 billion on the sidelines of the Commonwealth summit here Thursday, an official said.

Investment Promotion Minister Lakshman Yapa Abeywardana told reporters that the deals would be signed with an Australian company and two Chinese companies, Xinhua reported.

China Communications Construction Company (CCCC) will sign preliminary agreements to build a port city redefining the shoreline of capital Colombo at an investment of $1.3 billion.

A second agreement will be signed between Sri Lanka's Board of Investment (BOI) and Hong Kong-based Evic International Engineering and Nice View Investment for a $250-million multi-development project that will also include a block of apartments in Colombo.

The third project that will be inked is Australia's Property Alliance Capital, which will funnel $450 million in another mixed development project, including apartments, commercial buildings, malls and a multi-level car park in the heart of the capital.

"Sri Lanka has already reached $1 billion in investment so far this year. With the signing of these deals, Sri Lanka is meeting its goal of attracting $2 billion S. dollars in foreign direct investment for 2013," said Abeywardana.

The port city project, which aims to reclaim a 230-hectare site from the sea to build a mini-city that is expected to include a Formula One racetrack, is projected by the Sri Lankan government to attract $15 billion in investment for the country.

The state-run Sri Lanka Port Authority (SLPA), who are overseeing the venture, are preparing to present the project for cabinet approval before the end of the month, SLPA sources told Xinhua.

The 39-month long construction project will also include eco-parks, residential areas, offices and shopping malls, according to the SLPA.

It will be adjacent to the Colombo harbour, which is also being expanded by a Chinese company.

The new real estate will be among the most sought after locations in Colombo and is adjacent to star-class hotels including a $500-million Shangri-la hotel, which is under construction.

Since Sri Lanka ended a 30-year war in 2009, China has emerged as its largest loan provider funding massive infrastructure projects of highways, railways, a coal power plant, an airport and a harbor that are estimated to be worth around $4 billion.

IANS

Source: IANS

 
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11

21 hours ago

Chandimal, Mendis dropped for Pakistan Tests

Jul 31 2014 2:00pm CDT | Source: The Nation - Pakistan

Colombo - Sri Lanka have left out wicketkeeper-batsman Dinesh Chandimal and spinner Ajantha Mendis from their 15-man squad for the Pakistan Tests starting next week. Fast bowler Nuwan Pradeep returns to the squad after missing the recent South Africa Test series due to injury and youngster Niroshan Dickwella keeps his place as wicketkeeper after an impressive debut earlier this wee ...
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Update
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Update
5

3 days ago

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Jul 28 2014 2:00pm CDT | Source: The Nation - Pakistan

COLOMBO - A gritty South African tail fought off Sri Lanka’s spinners to snatch a nerve-jangling draw in the second Test and seal a historic 1-0 series win. The series victory propelled South Africa to the top of world Test ranking ahead of Australia and also ended their 21-year-old jinx on the island. It was their first series win in Sri Lanka since 1993 when they first toure ...
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Update
4

4 days ago

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Jul 28 2014 10:39am CDT | Source: Business Day

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Update
3

4 days ago

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Update
2

4 days ago

Sri Lanka's Test debutant Dickwella fined

Jul 27 2014 2:00pm CDT | Source: The Nation - Pakistan

COLOMBO:-Sri Lanka's debutant wicketkeeper Niroshan Dickwella was Sunday fined 10 percent of his match fee for claiming an unfair catch on day three of the ongoing second Test against South Africa. The 21-year-old player was found guilty of conduct that is either "contrary to the spirit of the game" or "brings the game into di ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
1

4 days ago

Sangakkara stars for Sri Lanka

Jul 27 2014 2:00pm CDT | Source: The Nation - Pakistan

COLOMBO - Kumar Sangakkara and skipper Angelo Mathews struck brisk half-centuries to help Sri Lanka set up a thrilling finale to the series-deciding second Test against South Africa on Sunday. Sangakkara (72) hit his tenth 50-plus score of the year and Mathews chipped in with an unbeaten 63 as the hosts declared their second innings on 22 ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 

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