Chinese company gets contract to set up underground rainwater drainage pipeline in several areas in Colombo
The Sri Lankan government has decided to award a Chinese company the contract to set up a new underground rainwater drainage pipeline covering several areas in Colombo.
According to reports, the new underground rainwater drainage pipeline is to be constructed at the Muthuwella and Torrington areas to transform Colombo into a flood resilient capital under the Metro Colombo Urban Development Project.
The Cabinet of Ministers has reportedly approved the proposal submitted by Megapolis and Western Development Minister Patali Champika Ranawaka to award the contract to M/s China Petroleum Pipeline Engineering Co. Ltd.
The proposal to award the contract to the Chinese company was made on the recommendation of the Cabinet Appointed Procurement Standing Committee.
OSL take:
The development work undertaken by the Sri Lankan government, especially in the development of urban and rural infrastructure has created many investment opportunities for foreign company. The awarding of the above mentioned project to yet another Chinese company indicates an ease of doing business as well as investment opportunities for Chinese companies. The close trade links between Sri Lanka and China have also been further strengthened by the opening of a branch of the Bank of China in Colombo recently.
| Article Code : | VBS/AT/11042018/Z_2 |