port-city

All set to go for Port City

Fresh from what he described as a successful tour of China, a top Minister yesterday insisted Sri Lanka had resolved its differences with Beijing and was ready to recommence a $ 1.4 billion Port City project with environmental clearance already granted. Having concluded his visit to China, Strategic Development and International Trade Minister Malik Samarawickrama said that he was upbeat …

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Historic Gall Face Hotel in Colombo opens after renovation

One of the oldest hotels East of the Suez, the Galle Face Hotel was established in 1864. Over the years, the hotel has housed royalty and celebrity. The North Wing of the iconic hotel was restored during the renovation with modern amenities while keeping the old grandeur intact. The management has taken great care to ensure the spirit of the …

Volkswagen plugs in assembly plant

$ 26.5m investment, venture to kick off immediately in Kuliyapitiya, completed within 2 years Employment for 200, training facility for 2,000, vehicles to be sold in local market for 3 years 8-year tax holiday, 500 annual manufacture, eye on exporting to South Asia       By Uditha Jayasinghe Notching up more foreign investment for Sri Lanka, the Board of Investment (BOI) …

Gammon Group to build $1.2b Free Zone in Lanka

THE Dubai-based Gammon Group will develop a Free Zone and implement other projects worth $1.2 billion in Sri Lanka, according to its Chairman Sheikh Rafik Mohammed. “The government of Sri Lanka has agreed to provide all the facilities, including 700-800 acres of land, for setting up of the projects in the pattern of Dubai Free Zone projects.” “There have been …

Shangri-La launches Rs. 200 million luxury apartments in Colombo

The Hong Kong based Shangri-La Group has launched its luxury apartments being constructed under its USD 608 million investment mixed development project at Galle Face in Colombo. The prices of these luxury apartments range from USD 700,000 (approximately Rs. 95 million) to USD 1.5 million (approximately Rs. 204 million) each, says Shangri-La. According to the developers, the smallest apartment is …

Russia and Sri Lanka to ink new MoUs for cooperation

07 May Sri Lanka and Russia will enter into several new Agreements and Memorandums of Understanding (MoU) to expand bilateral cooperation in several fields such as energy, trade and commerce, agriculture, education, judiciary and defence. This was discussed when Russian ambassador Alexander A Karchava called on President Maithripala Sirisena at the Presidential Secretariat this afternoon (May 07). The Ambassador conveyed …

Sri Lanka, Japan to link FTA this year

Apr 19, Colombo: Sri Lanka and Japan plan to formulate and sign a Free Trade Agreement between the two countries to enhance bilateral trade. The Sri Lanka-Japan Business Co-operation Committee says that they are preparing for possible a FTA between Fri Lanka and Japan in 2015. The fact was revealed at a meeting held in Colombo by the Sri Lanka-Japan …

Sri Lanka, Bhutan leaders discuss enhancing bilateral cooperation, establishing air links

Apr 10, Colombo: Leaders of Sri Lanka and Bhutan today discussed enhancing bilateral relations between the two countries, especially in education and agriculture sectors and establishing direct air links. Sri Lankan President Maithripala Sirisena and the visiting Bhutanese Prime Minister Tshering Tobgay agreed to establish air links between Paro and Colombo by Druk Air, the Bhutanese national carrier when they …

War of words between Chinese firm and Sri Lanka escalates over Colombo Port City

The war of words over the stalled Colombo Port City project escalated yesterday as China Communications Construction Company (CCCC) called the Sri Lankan government’s recent statement on the matter “factually incorrect”. Finance Minister Ravi Karunanayake had told the South China Morning Poston Friday that CCCC had failed to furnish the necessary documents within the two-week deadline set for it by …