July 07, 2010 (LBO) – Sri Lanka is drawing up a concept plan to develop Colombo city, clear under-utilized area, reclaim land from the sea and open them for development by the private sector, officials said. Treasury secretary P B Jayasundera said plans for a ‘new city’ reclaimed out of the sea would be announced “within the next two months” with opportunities for the private sector and public-private partnerships.
He said the ‘new city’ would present some of the largest investment opportunities ever.
Rajapaksa said a canal system from Puttalam to the north-west of Colombo, and going down to Moratuwa in the south was being cleared.
“Here also there are unauthorized constructions which we will have to clear,” he said.
Already with the help of the navy a boat service has started. Land would be opened for development to investors by the government, urban development secretary Gotabhaya Rajapaksa said.
“Concept plans are being done,” Rajapaksa, who is also the defence secretary, told an economic forum in Colombo organized by the Ceylon Chamber of Commerce.
“There is under-utilization of land, with the most valuable land not being used for pro