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Framework agreement inked for phase ll development of Colombo Port City

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A corporation framework agreement was signed by Port City Economic Commission, China Harbour Engineering Company, Browns Investments and Hunan Construction Investment Group for the phase 2 development of the Colombo Port City project in Beijing on Tuesday.

The total investment value would be around USD 1.565 billion. The agreement covers the development of the Marina Project and Marina Hotel Project and the Colombo International Financial Centre Mixed Development Project. The agreement was signed by Chairman Port City Economic Commission, Dinesh Weerakkody, Chairman of China Harbour, Tang Qiaoliang Director of Browns Investment, Kamanatha Amarasekera and Chairman of Huan Construction Investment Group, Cai Dianwei.

The investment also includes the construction of an International Financial Center and the investment would be around USD 500 million. The construction is scheduled to begin early next year. A five star hotel too would be included under this investment. In addition to this development, the next mega break though would be the opening of the duty free complex within the Port City by the end of the year. This will be operated by a Singaporean firm.

The post Framework agreement inked for phase ll development of Colombo Port City appeared first on DailyNews.

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