Sri Lanka invites investors for township development

Mar 23, 2010 (LBO) – Development of townships around Sri Lanka’s capital Colombo offers investors a range of investment opportunities to build infrastructure and supply services, a senior official said. The Greater Colombo township development, known as the ‘3K’ project from the three towns covered – Kottawa, Kaduwela and Kadawatha – is connected with construction of a highway around Colombo.

The outer-circular road, as it is called, connects the capital with major highways running north and south of Colombo and is meant to ease traffic congestion.

Nishad Dissanayake, project director of the township project under the Urban Development Authority, said a range of investment options are available to investors.

“The project aims to develop townships along the highways with private sector involvement and Japanese aid,” he told a seminar organised by the Sri Lanka Shippers’ Council to brief investors on investment opportunities in urban re-development.

The island economy has begun to revive with the end of a 30-year ethnic war in May 2009.

“The projects will provide access to new lands for urban development,” Dissanayake said.

“These are short-term projects meant to be complete