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 …

Passport of CHEC senior impounded

Colombo Chief Magistrate Gihan Pilapitiya has yesterday ordered to impound the passport of San Ya Peng, director of China Harbor Engineering Company Ltd (CHEC). The Criminal Investigations Department (CID) has reportedly arrested him recently at the Bandaranaike International Airport when he was trying to leave the country. Media reports state that San has been accused of not paying the bills …

Sri Lanka launches ten-year energy sector plan for knowledge-based economy

Mar 31, Colombo: Sri Lankan Prime Minister Ranil Wickremasinghe Tuesday unveiled the energy sector plan for the next ten years formulated to achieve the ambitious goal of 100 percent energy self-sufficiency by 2030. Launching the “Sri Lanka Energy Sector Development Plan for a Knowledge-based Economy, 2015-2025” at the Water’s Edge Hotel, Battaramulla this morning, the Prime Minister said the country …