The Chinese owner of Hambantota port makes a major investment in Colombo Port city project
The owner of Hambantota port China Harbor Engineering company has bagged
the One billion US dollar project in Colombo port City. The reclamation of land
from the sea for the Colombo Port city project was done with Chinese
assistance.
The Sri lankan company Brown Investment PLC has announced that it has
entered into a Memorandum of Understanding with China Harbour Engineering
company to put up a major mixed development project in Colombo port city which
runs into One Billion US dollars. the Sri Lankan media quoting Colombo stock
analysts said
Browns Investments
will be building two residential apartments and one office complex
Under this joint venture project Browns Investments will be building two residential apartments and one office
complex. The total area that would be covered by the project would be around 160,000 square
meters. Initial investment would be US$ 450 million and the project will take
some time for completion, analysts added..
Browns Investments contributed more than 48 percent to the turnover with
its retail trading activities, stock market analysts said.
