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Message: <blockquote data-quote="monson" data-source="post: 22764337" data-attributes="member: 30005">Sri Lanka signs two MOUs with China for building complex in Port City, underground Marine DriveWednesday, 24 January 2018 00:00<img src="http://static.ft.lk/assets/uploads/image_6c1ee729a1.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Extending the tripartite agreement signed between the Ministry of Megapolis and Western Development, Urban Development Authority and CHEC Port City Colombo, the two MOUs were signed in Beijing for funding of the Colombo International Finance City (CIFC) Building Complex on the reclaimed land of the Colombo Port City Development Project and the Underground Marine Drive Tunnel - with the Cabinet giving its approval in principle - connecting the airport highway and Marine Drive in Kollupitiya.These two MOUs were signed by China Harbour Engineering Company President Tang Qiaoliang on behalf of the Chinese side in the presence of Megapolis and Western Development Minister Patali Champika Ranawaka, Ambassador of Sri Lanka to China Dr Karunasena Kodituwakku, Senior Advisor to the Minister Vidya Amarapala, Project Director of the Port City Project Nihal Fernando and CHEC Port City Colombo Ltd. Managing Director Jiang Houliang. According to the progress so far achieved, 60% of the reclamation work at the Port City and the breakwater construction has already been completed. The completion of the reclamation and the construction of the breakwater will be done by June 2019. The Chinese investment company indicated its willingness to invest a further $ 1 billion in the construction of the first building complex on reclaimed land.According to the provisions agreed in the tripartite agreement, the Ministry of Megapolis and Western Development made a request to the project company to look into the possibility of making a further investment on a BOT basis to connect the elevated airport highway from Chaithya at the A1 Gate of the Colombo Harbour to Marine Drive in Kollupitiya.  Further, the Ministry conveyed their decision that the connection cannot disturb the view from the Old Parliament building and cannot disturb the use of Galle Face Green by the public and the present view of the Ocean from Galle Face Hotel which is a listed heritage building. Upon preliminary investigations, it has been found that the road connection has to be implemented as an underground tunnel connection.  The Cabinet in principle approved the signing of two MOUs for the two development projects. With the construction of the underground tunnel connection, Galle Face Green will be further extended towards the sea as a public facility which will be a very positive impact for the public to whom Galle Face Green had been dedicated.- <a href="http://www.ft.lk/business/Sri-Lanka-signs-two-MOUs-with-China-for-building-complex-in-Port-City--underground-Marine-Drive/34-647937" target="_blank">http://www.ft.lk/business/Sri-Lanka-signs-two-MOUs-with-China-for-building-complex-in-Port-City--underground-Marine-Drive/34-647937</a></blockquote>

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