Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Sri Lanka Port Authority to develop land holdings

Article-Sri Lanka Port Authority to develop land holdings

Sri Lanka Port Authority to develop land holdings

Colombo: The Sri Lanka Ports Authority (SLPA) is getting ready to make commercial use of its vast landholdings around the harbours in the island, some of which are now considered prime property.
"We've structured a framework agreement by which we can use the land for public-private partnership projects," SLPA chairman Saliya Wickramasuriya said. "It's now going through policy approval stages."
The SLPA intends to offer the land around its harbours to be developed by private sector property developers.
The move comes at a time when land prices in the island have been soaring.
Wickramasuriya said the SLPA will offer land for investment through the island's investment promotion agency, the Board of Investment.
"We will not lease or sell the land but subscribe the land as equity at commercial valuations and SLPA will be a silent partner in private-public ventures."
The authority owns around 20 acres of land around the Beira Lake, a water body in the heart of the city connected to Colombo port.
The SLPA also has almost 20 acres in the southern Galle harbour and several hundred more in the eastern port of Trincomalee and in southern Hambantota where a new port is being built by Chinese contractors. [17/6/08]

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.