Sri Lanka woos Chinese firms for $10 billion project
Sri Lanka has started talks with Chinese investors on the $10 billion Hambantota Economic Project to be implemented in the southern region of the island nation.
The project would encompass the establishment of oil refineries, a power generation plant and industrial zones, Prime Minister Ranil Wickremesinghe said.
Four projects — the Kandy Mega Development, Wayamba (North-Western) Industrial and Tourist Development Project, Western Megapolis and the Southern Tourist and Industrial Project — will be implemented by the government in 15 years. The Prime Minister, while addressing an event in Singapore recently, said the projects would form part of a bigger programme. The Kandy–Colombo–Hambantota Corridor, he said, would “reshape the country’s urban landscape with two airports and two seaports.”
Estimated to cost $40 billion, the Megapolis project is aimed at developing the Western Province as a megapolis on a global scale. It would have an expected population of 8.5 million by 2025 with Colombo as a business and financial hub to attract foreign investors.
(The Hindu)
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They have not estimated the No of least cost BOT coal fueled units per year required for all these projects which should be as stated in the electricity Act No 20 of 2009. This being the statutory duty of the PUCSL
Whoever does, good things are good. This are must be developed, the new airport and the harbour must be put in to good use. All these have big potential for tourism industry with access the national parks and the pristine beaches with plenty of space for buildings etc,
THE IMPORTANT THING IS: TO PUT RULES AND REGULATIONS IN PLACE AND HONEST OFFICIALS TO IMPLEMENT THEM, IN ORDER TO TAKE CARE OF THE ENVIRONMENT AND THE COST AND THE SEA LIFE. OHTERWISE IT WILL BE LIKE THE KILLING OF THE GOLDEN EGG LAYING GOOSE!
The srirsena/ranil syndicate has woken to realities of global economies and their role in development . China is the front runner in development they have the man-power, resources and the capital to implement projects in an unprecedented scale that western capitalist system has failed to conceive.
Mahaweli projects are doomed and as projected by 2025 the most of the reservoirs would run dry unless the government starts looking for aid desilt the tanks which would be collosal undertaking while this is happening the sea levels continue to rise the fate of structures built along the coast is uncertain, or is the glorified colombo slum is doomed