Sri Lanka OKs commission to oversee Chinese-built port city

Sri Lanka’s Parliament has passed a law installing a powerful economic commission to manage a proposed Chinese-built port city luxury development after altering elements of the bill deemed unconstitutional by the country’s top court

COLOMBO, Sri Lanka -- Sri Lanka’s Parliament on Thursday passed a law installing a powerful economic commission to administer a huge Chinese luxury oceanside development after altering elements of the bill ruled unconstitutional by the country’s top court. The bill to create the Colombo Port City Economic Commission passed with a 149-58 vote in Sri Lanka's 225-member Parliament. The CHEC Port City Colombo company, a unit of China Communications Construction Company, invested $1.4 billion for reclamation of land and construction of infrastructure adjacent to the Port of Colombo. In return, it obtained the right to use 62 hectares (153 acres) of marketable land on a 99-year lease from the Sri Lankan government, according to the project’s website. The planned project includes an integrated resort and casino and conference center zone, a marina, residential developments, a financial zone and green spaces.