Formula One Race Track In 39 Months

[Elvis_Pil]

Port City 1 Comment(s) 24 Jun, 2011 15:38:15 Sri Lanka secures US$700mn investment for reclaimed city June 24, 2011 (LBO) - The Sri Lanka Ports Authority (SLPA) has secured a 700 million US dollar investment to build a 'port city' on land reclaimed on the capital's seafront with the construction of a new harbour. SLPA chairman Priyath Wickrama said material dredged to build the new port next to the existing Colombo harbour will be used for the reclamation of about 200 hectares. "We have got an investor who will invest 700 million US dollars for the landfill," he told a public forum, without naming the investor.

The land will be given on a 99-year lease and be used to build a 'port city' with port-related businesses along with other activities.

"The project will take 39 months to complete," Wickrama said. "It will have a mini-golf course, a Formula One race track, a small yacht marina and areas for water sports."

The land reclamation will be on the southern side of the new Colombo South Harbour, a deep-water port being built next to the existing port.

It is meant to cater to the latest generation, bigger container vessels which are too big to call at the existing Colombo port.

The dredging and breakwater of the new port was funded with a loan from the Asian Development Bank.

A consortium led by China Merchants Holdings which has partnered with the local Aitken Spence conglomerate is to build the new port's first container terminal at a cost of 500 million US dollars.

[Elvis_Pil]

[Ripper]

great news i think

thanks to dredging of the sea bed in those areas, fish stocks have depleted though.

[Elvis_Pil]

great news i think

thanks to dredging of the sea bed in those areas, fish stocks have depleted though.

Yeah noticed a drop in the number of Sunday morning Anglers- thought it was off-season on something.

[Ripper]

Yeah noticed a drop in the number of Sunday morning Anglers- thought it was off-season on something.

yeah... i troll the deep seas off hendala side and we always used to get good strikes heading out of the river towards the harbor side.

there used to be a some rock formations under sea called "kelani gala"

from what i know, dredging ships have been breaking up that structure for the past few months to make way for the port expansion project.

Loss of those rocks there have made the surrounding seas somewhat un productive

last time i was out, we were trolling for a good 5 hours without a single strike

now the only option is to head further out to more deeper waters where construction stuff doesn't have much effect on.

[leyland]

Is Bernie aware of a country called Sri Lanka?

[Elvis_Pil]

Is Bernie aware of a country called Sri Lanka?

What really matters is whether the person who made the comment in the article knows anything about F1

[The Don]

What really matters is whether the person who made the comment in the article knows anything about F1

This is what I'm thinking. Also I'm not sure if we really have the money to make an F1 race worthwhile (to the teams and the F1 organisation) over here. I mean even the races in the Gulf are running at a loss to the state but Bahrain, Qatar and Abu Dhabi can afford to absorb those costs thanks to their oil wealth.

[Watchman]

What really matters is whether the person who made the comment in the article knows anything about F1

considering the fact they once boasted about claiming its a '8-lane' track, I'm gonna go with a 'NO'

This is what I'm thinking. Also I'm not sure if we really have the money to make an F1 race worthwhile (to the teams and the F1 organisation) over here. I mean even the races in the Gulf are running at a loss to the state but Bahrain, Qatar and Abu Dhabi can afford to absorb those costs thanks to their oil wealth.

From what I understand, its not the government spending for it right. Last paragraph says its some Chinese company that's leasing out the reclaimed land for the track and other attractions.

And I find the 39 month deadline hilarious

[The Don]

considering the fact they once boasted about claiming its a '8-lane' track, I'm gonna go with a 'NO'

From what I understand, its not the government spending for it right. Last paragraph says its some Chinese company that's leasing out the reclaimed land for the track and other attractions.

And I find the 39 month deadline hilarious

I see, so I guess the Chinese must have some viable business plan then. Such a lot of investment is going into "vanity projects" in our motherland and seemingly not as much to projects with genuine rational basis.

For example, we could further develop our position as a global leader in technology exports but not enough is going on in that department. If anything we have become less cost competitive. The same has affected our garments exports a lot and it has not been helped of various economic embargo's.

As a motor racing fan, I'd love to see a F1 race staged in Sri Lanka. But I'd like to see less jobless graduates, less people living under the poverty line and living in shanty towns.

[CyRaX]

Looks like wonderland,though I dont agree with the re-filling of the sea,the after effects will be worse

[Pericles]

Personally, I think all this talk is hogwash to explain the Chinese presence. Wouldn't be at all surprised to find out what was actually built was a Chinese military base, which was handed over to them on a 99 year lease. Give them a presence on India's Southern frontier.

Of course, Pure speculation on my part. Maybe I'm a pessimist. Maybe I read too much Tom Clancy novels. Hate to have to say "I told you so" a few years down the line on something like this.

[charitha19]

Personally, I think all this talk is hogwash to explain the Chinese presence. Wouldn't be at all surprised to find out what was actually built was a Chinese military base, which was handed over to them on a 99 year lease. Give them a presence on India's Southern frontier.

Of course, Pure speculation on my part. Maybe I'm a pessimist. Maybe I read too much Tom Clancy novels. Hate to have to say "I told you so" a few years down the line on something like this.

i am pretty sure u are right on this one mate.. my parents and brother are in china now for three years.. my father knows a lot about these chiniese contracts as the ambassador there is one if his former students.. belive me some of the land they have are not on lease.. they actually have the deed with them.... hmmmmm..

[Pericles]

Was following this interesting comments thread on a blog.

http://indi.ca/2011/06/chinese-government-buying-land-in-sri-lanka/

The Key comment I was interested in

The issue is why CATIC is being given equivalent land. They’ve done a few hotel in China, but they’re primarily a military aviation supplier. Does that make sense to you?

Bold added by me for emphasis.

Bit of googling confirms this http://en.wikipedia.org/wiki/China_National_Aero-Technology_Import_%26_Export_Corporation

Funny thing, looking at their list of products, I see at least three types of aircraft flown, or formerly flown, by the SLAF.

Its like a Tom Clancy novel in real life alright.

[Bugatti]

Was following this interesting comments thread on a blog.

http://indi.ca/2011/06/chinese-government-buying-land-in-sri-lanka/

The Key comment I was interested in

Bold added by me for emphasis.

Bit of googling confirms this http://en.wikipedia.org/wiki/China_National_Aero-Technology_Import_%26_Export_Corporation

Funny thing, looking at their list of products, I see at least three types of aircraft flown, or formerly flown, by the SLAF.

Its like a Tom Clancy novel in real life alright.

Damn... This is serious shit...! what are we getting our selves into..