Sri Lanka to resume suspended projects by early 2016

Colombo, Dec 17 (IANS) As it looks to attract more foreign investment, the Sri Lankan government on Thursday announced that it will resume all suspended projects by early 2016.

Cabinet spokesperson Rajitha Senaratne told a weekly media briefing that all the suspended projects would be given the go-ahead as agreements with the investors had already been signed, Xinhua news agency reported.

“We cannot stop it halfway and the prime minister had never said he will stop it. The projects had to be reviewed which is in the process of being done,” Senaratne said.

“Once everything is in place all the projects will continue as the government has already signed the agreements.”

The new Sri Lankan government led by President Maithripala Sirisena suspended some projects earlier this year, including a mega multi-billion US dollar port city project funded by China, as concerns were raised over some aspects of the projects.

However the government recently said that the mega port city will resume construction by February next year after the nod was given following an environmental impact assessment which states that the project will incorporate solutions for integrated management of energy, water and waste for long-term environmental sustainability and for creating a comfortable environment for its occupants.

The government has maintained that the project will change the face of Colombo and attract millions of dollars of investments in the coming years.

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