Sri Lanka university deal to CATIC

Ishara S. Kodikara | AFP | Getty Images Sri Lanka Prime Minister Ranil Wickremesinghe, center, speaks to supporters at the prime minister's official residence in Colombo on December 16, 2018, after he was reappointed as prime minister by Sri Lanka's president, the same man who fired him from the job nearly two months ago.

Nov 04, 2011 (LBO) – Sri Lanka has given an 89.55 million deal to build a technology school to China National Aero Technology Import and Export Corporation (CATIC) after larger hotel deal was cancelled over land sale dispute. CATIC was given the contract to re-located the Institute of Technology of Sri Lanka’s Moratuwa University to Homagama, another area a little of the capital Colombo.

Information minister Keheliya Rambukwelle had said the deal was not related to the cancellation of a 500 million dollar hotel project in Colombo’s Galle Face seafront.

The deal was cancelled after President Mahinda Rajapaksa ordered an outright sale of land to be made into a lease. The opposition has also protested the deal saying it was done without tendering.

Sri Lanka’s administration is trying to find alternate land for the Chinese group, which had already made a 54 million US dollars advance payment.