Cabinet approves extension of CHEC Port City Colombo project implementation period

Friday, 23 August 2024 00:08 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers approved extending the project implementation period for CHEC Port City Colombo Ltd., a significant development initiative under the Strategic Development Project Act No. 14 of 2008.

The extension moves the project deadline from 7 September 2024 to 30 June 2027. The decision was made during the Cabinet meeting held on 5 August 2024 and was subsequently formalised through an order published in the Extraordinary Gazette No. 2396/60, dated 9 August 2024.

The order provides the project with applicable exemptions under the Strategic Development Act, which is aimed at promoting and facilitating strategic investments in Sri Lanka.

The proposal to extend the project period was presented by President Ranil Wickremesinghe, who also serves as the Investment Promotion Minister.

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