FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» LOLC FINANCE PLC (LOFC.N0000)
by Equity Win Today at 3:47 pm

» SRI LANKA TELECOM PLC (SLTL.N0000)
by sureshot Today at 9:12 am

» Construction Sector Boom with Purchasing manager's indices
by rukshan1234 Today at 12:54 am

» Asha Securities and Asia Securities Target AEL (Access Enginnering PLC )
by Anushka Perz Yesterday at 12:00 am

» Sri Lanka: China EXIM Bank Debt Moratorium to End in April 2024
by DeepFreakingValue Wed Apr 17, 2024 12:52 am

» Uncertainty over impending elections could risk Lanka’s economic recovery: ADB
by God Father Tue Apr 16, 2024 4:17 pm

» Sri Lanka's Debt Restructuring Hits Roadblock with Bondholders
by God Father Tue Apr 16, 2024 4:12 pm

» BROWN'S INVESTMENTS SHOULD CONSIDER BUYING BITCOIN
by ADVENTUS Mon Apr 15, 2024 2:18 pm

» Bank run leading the way in 2024
by bkasun Sun Apr 14, 2024 4:51 pm

» ACCESS ENGINEERING PLC (AEL) Will pass IPO Price of Rs 25 ?????
by blindhog Thu Apr 11, 2024 12:14 pm

» ASPI: Undoing GR/Covid19!
by DeepFreakingValue Thu Apr 11, 2024 11:55 am

» Learn CSE Rules and Regulations with the help of AI Assistant
by ChatGPT Tue Apr 09, 2024 9:17 am

» Top AI tools in Sri Lanka
by ChatGPT Tue Apr 09, 2024 8:51 am

» HDFC- Best ever profit reported in 2023
by ApolloCSE Mon Apr 08, 2024 2:13 pm

» WAPO 200% UP
by LAMDA Mon Apr 08, 2024 12:11 am

» KEGALLE PLANTATIONS PLC (KGAL.N0000)
by DeepFreakingValue Fri Apr 05, 2024 3:34 pm

» ARPICO INSURANCE PLC - Reports LKR 625mn loss for the FY2023
by DeepFreakingValue Fri Apr 05, 2024 2:28 pm

» EXTERMINATORS PLC (EXT.N0000)
by ErangaDS Fri Apr 05, 2024 12:29 pm

» ALLIANCE FINANCE COMPANY PLC (ALLI.N0000)
by SL-INVESTOR Fri Apr 05, 2024 9:59 am

» PEOPLE'S INSURANCE PLC (PINS.N0000)
by Anushka Perz Thu Apr 04, 2024 11:20 pm

» PINS (People's Insurance) will be another UAL
by sakuni Thu Apr 04, 2024 9:52 pm

» A New Record Price for One Tonne of Cocoa on the International Market
by ResearchMan Thu Apr 04, 2024 3:33 pm

» Access Engineering awarded two more contract packages at Colombo Port
by samansilva Thu Apr 04, 2024 1:35 pm

» FMCG Sector LMF, MEL and DIST
by buwr Thu Apr 04, 2024 11:05 am

» CEYLON GUARDIAN INVESTMENT TRUST PLC (GUAR)
by soileconomy Thu Apr 04, 2024 4:30 am

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube

Disclaimer
FINANCIAL CHRONICLE™ Disclaimer

The information contained in this FINANCIAL CHRONICLE™ have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever. Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, FINANCIAL CHRONICLE™ blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

Further the writers and users shall not induce or attempt to induce another person to trade in securities using this platform (a) by making or publishing any statement or by making any forecast that he knows to be misleading, false or deceptive; (b) by any dishonest concealment of material facts; (c) by the reckless making or publishing, dishonestly or otherwise of any statement or forecast that is misleading, false or deceptive; or (d) by recording or storing in, or by means of, any mechanical, electronic or other device, information that he knows to be false or misleading in a material particular. Any action writers and users take in respect of (a),(b),(c) and (d) above shall be their own responsibility, FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental violation of securities laws of any country, damages or loss arising out of the use of this information.


AI Live Chat

You are not connected. Please login or register

Colombo Port City won’t cause environmental disruption, says EIA

2 posters

Go down  Message [Page 1 of 1]

EquityChamp

EquityChamp
Moderator
Moderator

Dec 15, 2015 (LBO) – The proposed Colombo Port City has a minimal environmental impact on the reclamation site and the coastal zone around the area, a supplementary environmental impact assessment, now available for public consultation, states.


Because of the impact of sand dredging north of the port city site, an income support program will be implemented for communities engaged in fishing, the report adds.


The report can be downloaded here.


“Due to the construction of the Colombo South Harbour, the incremental environmental impacts from the construction of Colombo Port City is minimal/negligible at the reclamation site and the coastal zone to the North and South of the site,” the report states.


Studies conclude that the Port City will also not cause coastal erosion.


Finance Minister Ravi Karunanayake said recently that the government is satisfied with the EIA, according to a media report. The EIA is now available for public consultation.


“We have given all the necessary clearances. Now it is up to the investors to sort out the minor details,” Karunanayake, told the South China Morning Post newspaper.


The 1.4 billion US dollar Port City is to be constructed between the Southern edge of the new Colombo South Port and the Fort Lighthouse.The total area of land available under the project will be 269 hectares.


Developed over a 25-year period, the Port City will have three stages with 7 hectares released for development per year.


According to the plan, 63 hectares of marketable land and 96 hectares of common land will be for the government, equivalent to 59 percent of the total, or 159 hectares.


The project company will receive 41 percent of the reclaimed land for marketing to developers, equal to 110 hectares.



The plan envisages significant economic benefits to the island with foreign direct investment being the biggest approved by the BOI for a single project.



In terms of environmental impacts, sand extraction would occur at depths of 15m or more, thereby having no impact on coastal erosion, the report states.



“The Kelani River is believed to contribute some 100,000 to 200,000 m3/year to the sediment budget of the area. Historically this is believed to have been much higher, perhaps 400,000 m3/year, but has declined due to sand mining and development upstream,” the report said.



“As a consequence there has been ongoing erosion to the coast to the north of the Kelani. Therefore, since Port City is in the shadow of the Colombo South Port breakwater, it has no impact on coastal erosion north of Colombo Port.”



A total of 11 different quarry sites with required approvals located in Kaduwela, Hanwella, Padukka, Delgoda and Divulpitiya area have been surveyed for obtaining quarry material for construction of necessary structures to protect the reclamation, it said.



The 11 quarry sites represent around 7-9 percent of the total registered quarries in the Colombo and Gampaha districts.



The impact of this project on the national quarry material requirement would be negligible to the construction industry, the report states.



Sand dredging is expected to cause “local and temporary impacts on the biological environment due to the removal of benthic fauna and increasing turbidity as a result of an increase in suspended particles in water columns.”



Due to this, 500 million rupees would be allocation to the Ministry of Fisheries for income support and benefits program for communities engaged in fishing, with supplementary funds allocated as needed.



This would be to uplift the socio-economic conditions and any loss of fishing grounds of fishermen impacted by the sand extraction, the report states.



In terms of impact on stock of fish, “there will be no reduction in fishing grounds in the reclamation area, since this is not an ideal habitat for fish breeding due to already silted conditions.”



Several international consultants together with local specialists will advise on the project.



This includes Atkins of UK for master plan review, Aecom for utility design, road design and landscaping, Jones Lang La Salle and CB Richard Ellis for financial and marketing pre-feasibility, and CDR International of the Netherlands for technical review of designs of the contractor.



The land will be available for various purposes such as commercial, residential, health and educational developments but not for industrial activities.



The Port City will have around 45 ha of public parks, 9 times the size of Galle Face Green, anchored by a 22 ha central park.There will also be a beach with a lagoon suitable for swimming and water recreational activities.



The port city project, under a Chinese developer, stalled after the new administration questioned project approvals by the last regime.



The investor, China Communications and Construction Company (CCCC), is a public listed company in Hong Kong and a Fortune 500 construction and real estate company. The company has assets of over 100 billion dollars.



Total FDI in the reclamation stage of the Port City is envisaged at 1400 million dollars, the largest FDI approved by the BOI to date. The financial investment in the project requires no government guarantees.





If it gets going next year market will move together with JKH.

Ryan Hudson


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Guys, this is fantastic

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum