Cabinet nod to lease land for hospitals, schools, universities in Colombo Port City

Thursday, 15 August 2024 00:15 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved entering into agreements to lease land within the Colombo Port City for the development of hospitals, schools and universities.

The decision is in line with the provisions of Section 6(1) (C) of the Colombo Port City Economic Commission Act No.11 of 2021.

Under this section of the Act, the Colombo Port City Economic Commission has the authority to lease marketable State lands within its jurisdiction. In line with this mandate, the Commission has invited proposals from investors for the development of educational and healthcare facilities within the Port City.

As a result, proposals have been submitted by Asiri Port City Hospital Ltd., Gateway International School Ltd., and Gateway International University Ltd. These proposals include a $ 100 million investment for a hospital and $ 25 million each for a school and a university.

The proposal to this effect presented by President Ranil Wickremesinghe in his capacity as the Investment Promotion Minister was approved by the Cabinet of Ministers.