Mar 08, 2015 (LBO) – A Chinese firm who build the port city in Sri Lanka said it has received official communication from the Sri Lankan government to postpone ongoing work of the 1.4 billion US dollar project, with immediate effect and will comply accordingly. However the firm also said that it will all necessary steps to provide the approvals asked .even though the agreement has already signed.
The company will be taking all necessary steps to provide these requested documents as instructed by the Ministry of Ports, Shipping & Aviation to abide by the notification received, without prejudice to the legal rights of the company under the Agreement entered into with the Government of Sri Lanka on 16th September 2014, to develop the Port City Project. The statement said.
The full statement is reproduced below:
China Communications Construction Company Limited (CCCC), the ultimate investor in the Colombo Port City Project, clarifies the following facts
07 March, 2015, Colombo: CHEC Port City Colombo Private Limited, a company incorporated in Sri Lanka which is fully owned by CCCC has received official communication from the Secretary to the Minister of Ports, Shipping & Aviation, communicating a decision taken by the Cabinet