Sri Lankan Infrastructure and development thread (rail,road,skyscrapers etc etc)

[Godman]

Priority lane successful, likely to continue: Champika
2017-03-19 18:20:54
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The separate lane for buses being operated for the past one week in Rajagiriya is a success and will likely be continued, Megapolis and Western Development Minister Patali Champika Ranawaka said today.

He said this pilot project had to a large extent reduced traffic congestion.

“Statistics have shown that the speed of passenger buses had increased from 9.5 kmph to 21 kmph during the operation of this project. It has helped other vehicles to increase their speed as well,” the minister said and added that there were several requests to introduce this project to other main roads as well.

Moratuwa University Prof. Amal Kumarage said that the separate lane for buses had helped reduce traffic congestion.

He said the pilot project which ended yesterday helped identify the problems that might crop up difficulties when something new was introduced and that a decision whether to continue with project would be taken today at a to be attended by officials of the ministry, the Motor Traffic Department, KOICA, the Police Department, the Moratuwa University, the private and public bus operators and other stakeholders. The minister said reserving a separate lane for buses was not sufficient.

"We exploring ways improving the quality of the public transport service and depending on the discussions we hope to add more comfortable buses to the state transport sector,” he said. (Thilanka Kanakarathna)



- See more at: http://www.dailymirror.lk/article/P...nue-Champika-125751.html#sthash.oNJYizSb.dpuf

 

[Godman]

Sri Lanka govt to call bids for 100MW floating solar power plant
LBO
Posted on March 1, 2017 | Featured, Power

Mar 01, 2017 (LBO) – Sri Lanka’s government will call international competitive bids to build a 100 megawatt floating solar power plant in the Maduru Oya reservoir and allocate funds for a training project for prototype manufacturing of solar panels.

The solar power plant will cover four percent of the surface area of the reservoir which is spread over an area of 500 acres, the latest statement of cabinet decisions said.

The proposal was made by President Maithripala Sirisena as minister of Mahaweli development and Ranjit Siyabalapitiya, minister of power and renewable energy and minister of science and technology.

The cabinet has also given its nod to go ahead with a training project for prototype manufacturing of solar panels.

Professors from four universities Kelaniya, Jaffna, Ruhuna and Peradeniya and one from the National Institute of Fundamental Studies will be conducting the training sessions.

The ministry of science and technology has been allocated an additional 80 million rupees for obtaining the required equipment, chemicals and consumer goods for the project.

http://www.lankabusinessonline.com/sri-lanka-govt-to-call-bids-for-100mw-floating-solar-power-plant/

 

[Gibbs]

Sri Lanka, Sydney stock exchange tie-up mulls cross listing, trading

CSE Chairman Vajira Kulatilaka (Seated Left) and SSX CEO Tony Sacre (Seated right) at the signing ceremony. (Standing L-R) CSE Director Anton Godfrey, CSE Director Shanil Fernando, CSE CEO Rajeeva Bandaranaike,SSX Deputy Chairman George Wang, SSX General Manager - Listings Joseph Law and CSE Head of Market Development Niroshan Wijesundere.

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange (CSE) and the Sydney Stock Exchange (SSX) recently entered into an agreement for mutual development that will explore possibility of cross listing and trading.

A statement said the memorandum of understanding between the CSE and SSX was inked during a visit by a Sri Lankan team for the Invest Sri Lanka Forum that took place in Sydney last week.

It aims “to create new links between Australian and Sri Lankan businesses and capital markets,” the statement said.

“The collaboration between SSX and CSE will ensure an active and efficient market as well as enhancing the confidence and integrity of capital markets between Australia and Sri Lanka,” Tony Sacre, CEO of SSX said.

“Our mission is to solidify a connection between Australian and Asian markets and the rest of the world. Sri Lanka has been an important trading partner for Australia, and this bond is a strong sign of the relationship only continuing to improve.

“SSX and CSE will explore the possibility of collaborating regarding cross listing and trading of securities including stocks, bonds and ETFs,” said Sacre.

Vajira Kulatilaka, Chairman of CSE, said the collaboration with SSX marks an important development for the CSE, as it looks to improve avenues for cooperation and mutual development with peer international exchanges.

“We are pleased at the prospect of working with the SSX to broaden investment opportunities for market participants both in Sri Lanka and in Australia.”

SSX provides opportunities for growth-oriented companies to raise the capital they need for expansion from a diversified range of domestic and international investors, especially from the Asia-Pacific region.

The exchange provides and develops specialised markets in sectors including resources, oil & gas, real estate, technology, agribusiness, services and growth companies.

SSX is a part of the APX Exchange Group, a wholly owned subsidiary of the AIMS Financial Group, an Australian diversified financial services and investment group active in the areas of mortgage lending, securitisation, corporate advice, funds management, property investment and high-tech investment.

 

[Gibbs]

 

[Godman]

http://mirrorcitizen.dailymirror.lk...n-of-new-terminal-to-commence-shortly-at-bia/

Construction of new terminal to commence shortly at BIA

Published : 9:27 am March 30, 2017

By Kalathma Jayawardhane

The Bandaranaike International Airport (BIA) will not be closed again for renovations after it is fully reopened for business on April 6, Head of Airport Management H.S Hettiarachchi said yesterday.

Speaking to the Daily Mirror, Hettiarachchi said the project was not complete as yet, despite renovation of the main runway being completed.

“The BIA’s main runway was closed from January 6 for its renovations and it would be opened by next month. But there are several other projects that need to be completed at the BIA. But the airport’s main runway would not be closed under any circumstances again in future,” he said.


He said the renovations of the runway and the second phase of the project were completely unrelated and added that new parking space for airplanes and taxiways were to be constructed under the second phase at the BIA.


Hettiarchchi also said the construction of a new terminal at the BIA would commence, mid-year. Meanwhile, Ratmalana Airport Manager Aruna Rajapakse told the Daily Mirror that the operators who had dealt with the Ratmalana Airport during the BIA’s renovation period, would continue to operate with them in future, even after the main airport reopens next month. “During this period we have operated International Corporate Jets, specialized for trade purposes which have been transferred from the BIA. We hope that there would be no change in the profits we have received during this period,” he said.

 

[Godman]

Work on Colombo National Hospital OPD inaugurated

Saturday, April 8, 2017 - 01:00

Construction work on the Out Patients’ Department (OPD) of the Colombo National Hospital (CNH) was inaugurated by President Maithripala Sirisena and National Committee of Chinese People’s Political Consultative Conference Chairman Yu Zhengsheng. This project is funded by the Chinese Government.Health Minister Rajitha Senaratne was also present. Picture by Nissanka De Silva

http://dailynews.lk/2017/04/08/local/112853/work-colombo-national-hospital-opd-inaugurated

@Chinese-Dragon @Shotgunner51 @AndrewJin

 

[Godman]

 

[Gibbs]

Sri Lanka-Based MAS Holdings Plans Asheboro, North Carolina, Manufacturing Plant

MAS Holdings, a global apparel technology and manufacturing company, will locate its first manufacturing and development center in the United States, 27 miles south of Greensboro, in Asheboro, North Carolina. The company plans to invest nearly $20 million in its in Randolph County facility creating 133 jobs.

According to state officials, Sri Lanka-based MAS Holdings’ selection of a North Carolina location includes a pending acquisition of Acme-McCrary, a 108-year-old textile manufacturer currently located in Asheboro, with additional facilities in Chatham County and the Republic of Honduras. The company produces legwear and active wear for large U.S. retailers.

Mahesh Amalean, Chairman of MAS Holdings stated, “We are delighted to be associated with Acme-McCrary, whose values and philosophy are very much in alignment with MAS.”

“Our presence in the Western Hemisphere enables us to strengthen our value propositions of speed and flexibility offered through on-shore and near-shore operations to our customers. It also enables us to engage and strengthen our continued association with academia and research institutions in the U.S. We are appreciative of the support and assistance extended to us by the State, County, City and its officials and look forward to integrating and contributing to the community in North Carolina,” Amalean added.

“North Carolina enjoys a worldwide reputation as a center for textile research and workers,” Governor Roy Cooper said. “Our excellent business climate and location offer international firms an ideal place to reach and serve customers in the United States.”

W.H. Redding Jr., Chairman of Acme-McCrary stated, “We are pleased to be a part of MAS Holdings’ location of a manufacturing facility in our hemisphere. MAS Holdings brings to North Carolina an exemplary corporate culture and a growing business. Their concern for environmental impact is world class and keeping and growing textile jobs in North Carolina is exciting.”

As an incentive, a performance-based grant of $575,000 from the One North Carolina Fund will help facilitate MAS Holdings’ location into Randolph County. The One NC Fund provides financial assistance to support local government efforts to attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment.

In the case of MAS Holdings’ grant, in addition to its new job-creation target, the company is also required to retain 374 existing jobs currently located in North Carolina at Acme-McCrary. All One NC grants are also contingent upon a matching grant from local governments.

N.C. Commerce and the Economic Development Partnership of N.C. led the state’s response to the company’s search for a business location. Other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, North Carolina State University, Duke Energy, the City of Asheboro, Randolph County, and the Randolph County Economic Development Corporation.

http://www.areadevelopment.com/news...acturing-center-asheboro-north-carolina.shtml

 

[Godman]

$250 million apartment complex construction begins
April 19, 2017 11:54 am




By Roosindu Peris
The Ministry of Megapolis and Western development stated that the construction of Sri Lanka’s largest residential apartment complex has begun.

Minister Champika Ranawaka will be laying the foundation stone for the building, which will be built at a cost of around $250 million by Horton Square Pvt Ltd and will be 75-storeys high.

The project is set to be completed in the year 2020. It will be the tallest building in the country upon completion and even taller than the Lotus Tower, which also under construction.
http://www.adaderana.lk/news/40242/250-million-apartment-complex-construction-begins

 

[Godman]

Capital Developers deploy five piling machines for twin tower project
LBO
Posted on April 20, 2017 | Featured, Lead Story, Real Estate & Construction

Apr 20, 2017 (LBO) – Property developer Capitol Developers has deployed five piling machines to accelerate construction of Capitol Twin Peaks, the 470-apartment twin tower project on Staple Street, the company said.

After breaking ground in November, the company aims to utilize new trends to complete construction by 2020.

“One of these pilling machines, the Bauer BG 30, is the largest piling machine of its kind in Sri Lanka. Deploying this piling machine and four others at one project site is a rare occurrence, as it requires advanced technical skill and a strong investment commitment from the developer,” the company said.

Piling uses vertical columns that are driven deep into the ground to transfer the building load to a deeper level.

Capitol Developer is part of the Sanken Group, with Sanken Construction the design and build partner for Capitol Twin Peaks.

“Having 360-degree access for all its project needs in-house ensures that Capitol developers does not have to outsource functions such as piling work, thereby maintaining full control over every aspect of the construction.”

Capitol Developers has a portfolio that includes Capitol Residencies, HR Residencies, Tulasi Mahal Apartments in Jaffna; the business city hotel, Cinnamon Red Capitol 7 on Rosmead Place and Capitol Elite on Horton Place.

Sanken Construction has delivered Trillium Residencies, Empire City, Emperor, OnThree20, 7th sense on Gregory’s Road and many other high-rises in the city.

 

[Godman]

 

[Godman]

@Gibbs @NGV-H
The Belluna guys from Japan are on a investing spree in SL it seems. They have taken the land reserved for Packer's casino for a large mixed development project

Belluna, Asia Capital gets Beira land for Rs 4 bn

Wednesday, April 26, 2017 - 01:00

Belluna Co. Ltd, Japan and Asia Capital PLC have paid Rs. 4 billion to acquire the former Government Supplies Department premises (opposite Lake House) from the Urban Development Authority (UDA).

The total extent of this land is 381 perches. Belluna Japan Chairman Kiyoshi Yasuno speaking to Daily News Business said they will build a mixed development project in this land investing US$ 350 million. He said that that they also hope to use the Beira Lake for development under this mixed development project.

“We will name it as the Lake House mixed development project and would prepare the plan for it by the end of this year.” This land was earmarked by Australian business tycoon James Packer to build a mixed development project including a casino under the previous government. SS

http://www.dailynews.lk/2017/04/26/business/114180/belluna-asia-capital-gets-beira-land-rs-4-bn

 

[NGV-H]

@Gibbs @NGV-H
The Belluna guys from Japan are on a investing spree in SL it seems. They have taken the land reserved for Packer's casino for a large mixed development project

Belluna, Asia Capital gets Beira land for Rs 4 bn

Wednesday, April 26, 2017 - 01:00

Belluna Co. Ltd, Japan and Asia Capital PLC have paid Rs. 4 billion to acquire the former Government Supplies Department premises (opposite Lake House) from the Urban Development Authority (UDA).

The total extent of this land is 381 perches. Belluna Japan Chairman Kiyoshi Yasuno speaking to Daily News Business said they will build a mixed development project in this land investing US$ 350 million. He said that that they also hope to use the Beira Lake for development under this mixed development project.

“We will name it as the Lake House mixed development project and would prepare the plan for it by the end of this year.” This land was earmarked by Australian business tycoon James Packer to build a mixed development project including a casino under the previous government. SS

http://www.dailynews.lk/2017/04/26/business/114180/belluna-asia-capital-gets-beira-land-rs-4-bn

It's good that they found someone to use the land, bad that they ruined a good investment.

 

[Gibbs]

It's good that they found someone to use the land, bad that they ruined a good investment.

It's funny that this govt is going back on so many promises they made before coming to power, From cancelling Chinese investments to now reversing laws on banning domestication of elephants to so many other stuff.. Bloody hypocrites.. People have been let down dramatically

 

[Godman]

It's good that they found someone to use the land, bad that they ruined a good investment.

I wonder what Belluna plans to do as it should have a value similar to the Crown resort. There aren't much exact details on this project yet and they already have started work on Hotels and Residential skyscrapers. The Lake leisure Holdings which was the local partner is now a subsidiary of Belluna.
More details will be released soon I guess

It's funny that this govt is going back on so many promises they made before coming to power, From cancelling Chinese investments to now reversing laws on banning domestication of elephants to so many other stuff.. Bloody hypocrites.. People have been let down dramatically

I doubt this will become a Casino but the Cinnamon life will most likely get a Casino permit in the future. Some say that other than using buddhist opposition to Casinos in eelections some JKH heads also asked the UNP to get rid of Crown so Cinnamon life can get the biggest Casino in SL after its completed. It will be completed in 2020 and regardless of who wins the elections they can give the permit at the beginning of their term and by the next election people would have forgotten it.
Its just a rumour but its quite possible