Ministry of Foreign Affairs December 2016 Briefing Note

Key Infrastructure Projects and Opportunities for Foreign Investment in

The briefing note presents key infrastructure projects being developed in Sri Lanka in the areas of urban develop- ment, sea & airport development and road development. This will enable the missions to promote investment in these sectors.

Western Region Megapolis Planning Project

Overview Figure 1: Proposed Western Region Megapolis Land Use Plan The Western Region Megapolis Planning Project (WRMPP) is a major urban develop- ment initiative which focuses on developing the Western Province as a ‘megapolis’.1 A megapo- lis is characterised by a cluster of large net- worked cities which exist independently but are integrated. It is characterised by urban sprawl, high population density and a convergence of urban and suburban areas.

Expected Benefits The WRMPP aims to position as Asia’s next ‘Global City’. The WRMPP envi- sions a spatial and structural transformation of the Western Province of the country to: ▪▪ Alleviate congestion pressures caused by ‘messy urbanisation’ ▪▪ Create the enabling environment to accel- erate growth to reach high income country status

Harness the benefits of global technological developments2

Activities Source: WRMPP, 2016 The WRMPP identifies the medium and long term Current Status: Planning development direction of the Western region. An im- plementation framework will be developed and include Funding: Public-Private Partnerships the following: Total Estimated Project Cost: USD 83 billion ▪ ▪ Preparation of detailed planning & for all Duration of the Project: Long term areas within the Western Region. Implementing Agency: Ministry of Megapolis ▪ ▪ Feasibility and strategic study for the identified key and Western Development catalyst projects.3

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▪▪ Identification and development of critical infrastruc- edge, or organisational strength are lacking to carry out ture projects. the proposed assignment and consultants are required. ▪▪ Project and land sale packaging. The Guidelines on Government Tender Procedure (2000) will be applicable to the procurement of private ▪▪ Land consolidation. infrastructure projects. Infrastructure development projects will include: Strategic interventions under the WRMPP have been categorised under ten broad themes: ▪▪ Power plants 1. ,4 Energy and Water ▪▪ Highways 2. Housing and Relocation of Administration ▪▪ 3. Environment and Waste Management ▪▪ Airports 4. Aero Maritime Trade Hub ▪▪ Telecommunications 5. Central Business District5 ▪▪ Railways 6. Industrial and Tourist Cities ▪▪ Transport systems 7. Science and Technology City ▪▪ Industrial estate development 8. Eco Habitats and Plantation City ▪▪ Large scale real estate developments 9. Smart City Development Project6 ▪▪ Solid waste management 10. Spiritual Development Facilitation ▪▪ Water supply and drainage The interventions represent a non-exhaustive grouping ▪▪ Warehouses, housing, markets etc. of over 150 development projects according to either a ▪▪ Land reclamation functional or geographic basis.7 ▪▪ Other economic infrastructure. Opportunities for Foreign Investment Several international parties have expressed a keen Projects under the WRMPP will be developed under interest in the project. In July 2016, International En- the following methods: terprise (IE) Singapore, a government agency in Singa- pore, signed a Memorandum of Understanding (MoU) ▪▪ Public-Private Partnership (PPP) with Sri Lanka’s Ministry of Megapolis and Western ▪▪ Expression of Interest (EOI) - Request for Proposal Development to facilitate Singaporean investment in (RFP) - Tendering the Western Region Megapolis Project.9 The MoU aims to enhance business flows through greater access ▪▪ Government to Government to partnerships for the development of the Western ▪▪ Funding by WRMPP Region Megapolis.10 ▪▪ Fund raising by WRMPP etc. Contact for Further Information All projects will be subject to regulations and guidelines Nayana Mawilmada developed by the Western Region Megapolis Planning Head of Investments - WRMPP Authority.8 The Western Region Megapolis Planning 10th Floor, Wing “C”, Sethsiripaya Stage II Authority together with the Agency for Development , Sri Lanka. will be responsible for the supervision of the projects. Tel: +94 112186091 The methods of procurement will be based on the Mobile: +94 77 921 3601 Procurement Guidelines (2006). Guidelines regarding Email: [email protected] Selection and Employment of Consultants (2007) are Web: www.megapolis.gov.lk applicable in the circumstances where expertise, knowl-

Image source: https://en.wikipedia.org/wiki/Colombo

page 2 | 14 Compiled by Verité Research Ministry of Foreign Affairs December 2016

Mattala Rajapaksa International Airport

Figure 2: Layout of Area Available for Commercial Investment in MRIA

Source: Airport and Aviation Services (Sri Lanka) Ltd, 2016

Overview Opportunities for Foreign Investment Mattala Rajapaksa International Airport (MRIA) is Expressions of Interest for foreign investment are ex- Sri Lanka’s second international airport, located in pected to be called from the Strategic Business Enter- Mattala - 24 km from Hambantota in the Southern prises for Investment and Commercial Operations of province. It is located in close proximity to several the MRIA. The following investment opportunities are tourist attractions such as Udawalawe National Park, available at the MRIA. Sinharaja Rainforest, Yala National Park, Arugam Bay ▪▪ Direct aviation related ventures: and the Galle Dutch . –– Use of MRIA as an Airline Operational Base/ Current and Expected Benefits Hub ▪▪ Passenger terminal with floor area of over 14,000 –– MRO (Maintenance, Repair and Overhaul facili- sq. m with passenger capacity of one million passen- ties) for airlines gers per annum. It has 12 check-in counters and 2 –– Flying schools and Aerospace Engineering gates equipped with jetways. schools ▪ ▪ Runway capable of handling the largest aircraft, –– Aerospace Engineering namely the Airbus A380. –– Cannibalisation and Recycle of Aircraft Parts ▪▪ Cargo terminal of 5,000 sq. m with the following facilities: Export cargo section; import cargo section; –– FBO customs; airline offices; plant and animal quaran- –– Aircraft Component Manufacturing tine; two cool rooms; special vault for high value items; 20 ha for cargo logistics; 50 ha for industrial –– Aircraft Long Term Parking developments and space for bonded warehousing. ▪▪ Indirect aviation related ventures: ▪▪ Gazetted as a bonded area by the Government of –– Hospitality, , recreation & leisure, adven- Sri Lanka (GOSL) in February 2013. ture, freight forwarding, courier services, trans- ▪▪ In close proximity to the Hambantota and the portation Southern Expressway. –– Hotel/Resorts –– Recreation Activities and Theme Parks

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–– Duty Free Shopping Complex (Branded shopping For Further Information outlets spa & therapy) Derick Karunaratne –– Golf Course Development Corporate Communications Officer –– Renewable energy industry (solar, wind turbines, Airport and Aviation Services (Sri Lanka) Ltd. etc.) Bandaranaike International Airport, Katunayake, Sri Lanka –– Industrial park (manufacturing, packaging, ware- Tel: +94 11 2263140 housing) Mobile: +94 73 041799 –– Agricultural products and perishable cargo for Fax: +94 11 2251995 export Email: [email protected] –– Cruise Ship Transfers –– Transit Services –– Knowledge parks (schools, academies, universi- ties)11

Image source: https://commons.wikimedia.org/wiki/File:Mattala_Rajapaksa_International_Airport_Terminal_Building.JPG

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Hambantota Port Development Project Phase II

Figure 3: Layout of Hambantota Port

Current Status: Completed Funding Agency: Export and Import Bank of China Total Estimated Project Cost: USD 800 million Duration of the Project: Nov 2012 – Nov 2015 Implementing Agency: Sri Lanka Ports Authority

Source: Sri Lanka Ports Authority, 2016.

Overview ation fuel and liquid petroleum gas. The tank farm has oil blending and fuel testing facilities, and the oil The development of the Hambantota Port is the latest terminals are equipped with 16 loading arms. major port related development undertaken by the Sri Lanka Ports Authority (SLPA). The Port is expected to ▪▪ Regional supportive infrastructure facilities include be developed as a major industrial and service port in the Southern Expressway connecting the business the South East Asian region with an attached industrial capital of Colombo and the southern region of the zone. This is driven by the rapid growth in the Asian country;13 Mattala International Airport; a State- market.12 of-the-art International Conference Hall; and a fully-fledged General Hospital with state-of-the-art Expected Benefits facilities.14 ▪▪ The Hambantota Port has approximately 800 hect- ares of land within its industrial zone, making it one Activities of the largest port related industrial zones in South The Hambantota Port project is being carried out in Asia. With zero deviation time from the internation- multiple phases. al shipping route, it is ideal to operate as a logistics Phase I of the project will provide bunkering, ship hub and ship repair yard facility. repair, ship building, and crew change facilities. Phase ▪▪ The port has been declared a Free Port and is I commenced on January 2008 and completed the planned to operate as a Green Port in the future. following activities by December 2011. ▪▪ Hambantota is ideally located among major man- ▪▪ Two breakwaters ufacturing bases for automotive parts and markets ▪▪ Excavation of 17m deep harbour basin in Asia and Africa, making it ideal as a centre for vehicle assembly and value addition. Hambantota ▪▪ Dredging of 210m wide entrance channel has a competitive edge over other ports with its au- ▪▪ Construction of service berth with a total length of tomotive roll-on roll-off (RO-RO) and transhipment 105m operations. The port contains a dedicated RO-RO yard of 11 ha, and 25 ha of heavy duty yards for ▪▪ Construction of general purpose berth of 100,000 expected container and other cargo operations. DWT capacity and a berth length of 600m, ▪▪ The bunkering operations will target traffic pass- ▪▪ Construction of oil berth of 100,000 DWT capacity ing the south coast of the country. The bunkering and a berth length of 300m facility consists of 14 tanks with a storage capacity ▪▪ Access Roads and ancillary buildings. of 80,000 cb m and has facilities for bunker fuel, avi-

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Currently, terminal operations are ongoing in the Phase ▪▪ Resource Recovery Industry (ex. Waste Oil-Refining I terminals. Plant) Phase II of the project commenced in November 2012 ▪▪ Sugar Industry and the following activities were completed by 2015: ▪▪ Power Generation ▪▪ Construction of multipurpose berth, transition ▪▪ Value Added Logistic Services such as freight berth, main container terminal and feeder container forwarding services and shipbuilding, repairing and terminal breaking16 ▪ ▪ Construction of dolphin type oil berth ▪▪ Assembling Plants ▪ ▪ Construction of the artificial island with an extent ▪▪ Waste Managing Industry (to manage waste gener- of 42.6 ha ate within the port) ▪ ▪ Deepening of entrance channel from -16m to -17m, ▪▪ Dockyard construction of coffer dam, and access roads, yards and handling facilities. ▪▪ Warehousing Necessary action to obtain electricity and water sup- The main charges related to the industrial develop- ply connections to the Port of Hambantota and the ment and operation activities at the industrial zone are installation of these services are currently in progress. the annual land lease, royalties (based on the annual Further, the Port is well equipped with two six-lane port throughput) and lump sum premium. access roads covering East and Western sides of the There are plans to expand the existing RO-RO and Port. In addition, several four–lane and two–lane roads Bunkering operations, with the SLPA already having have also been constructed. requested proposals for Bunkering Operations.17

Opportunities for Foreign Investment Contact for Further Information Request for Proposals to establish the following indus- Mr. Upul Jayatissa (Chief Manager - Marketing & 15 tries within the facility are in the pipeline: Business Develop) ▪▪ Petroleum based Fuel Industries (Fuel, Polymers, Lu- Sri Lanka Ports Authority bricants, Polyolefin) and Petroleum Products Storage 19, Chaithya Road, Colombo 01. ▪▪ Manufacturing Industry (Fertiliser Processing Plant, Tel: +94 11 2399464 Glass Processing and Recycling Plant, Aluminium Mobile: +94 71 8688322 Processing Plant, Wood Based Panel Manufacturing, Email: [email protected] Ship Building)

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Colombo South Port Expansion

Figure 4: Proposed Layout of Colombo Port South

Current Status: Ongoing Funding Agency: Asian De- velopment Bank, Government of Sri Lanka and the Private Sector Total Estimated Project Cost: USD 1.2 billion Duration of the Project: 2008 - 2022 Implementing Agency: Sri Lanka Ports Authority

Source: Asian Development Bank, 2007.

Overview These advancements would attract any type of ship to the harbour, not only with its greater back-up space Colombo Port is the natural transhipment hub for and depth, but also proper road access, access to con- the South Asian region. However, due to capacity tainer operator services and a well-established system constraints, the share of transhipments to the Indian already present in Colombo. subcontinent declined between 1998 and 2002, from 52% to 45% respectively. Without its transhipment sta- With the completion of the project, it is expected that tus, Colombo Port will become a feeder port, leading to the container handling capacity of the Port of Colom- increased costs and times in trading through Colombo. bo will increase from slightly more than 4 million TEUs To recapture market share, and maintain its status as a to 12 million TEUs per year, making it one of the transhipment hub, the GOSL identified the expansion world’s largest container ports. of the as a major internationally competitive port in South Asia, and as a key strategic Activities interest. The Colombo Port Expansion Project (CPEP) will Prior to the project, there were three terminals in the facilitate the construction of the Colombo South Port of Colombo: Jaya Container Terminal, Unity Harbour (CSH). The CSH will be situated to the west Container Terminal and South Asia Gateway Termi- of the existing Colombo Port and comprise an area of nal, comprising seven main container berths and four approximately 600 hectares. feeder berths. The Port of Colombo had a capacity of about 4.5 million TEUs. The expansion project will The proposed layout shows that the CSH will be enhance capacity by 7.2 million TEUs.18 created through the construction of a major new break- water to the west of the existing harbour, and a smaller Expected Benefits secondary breakwater. New buildings for a pilot station and crew accommodation are to be constructed at the The CSH will have advanced features such as: head of secondary breakwater. ▪▪ A depth of 18m and an access channel of 20m depth, as opposed to 15m and 16m respectively in Following the completion of the CPEP, three more the present harbour. terminals, each having 1,200m length and a capacity of 2.4 million TEUs and facilities to accommodate 3 ▪ ▪ A turning circle of 800m in the new harbour basin, berths alongside, will be available. The first of these, a basin depth of 18m and a two-way access channel the South Container Terminal has been completed and of 570m width and 20m depth. already commenced operations. This is the first termi-

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nal in South Asia that can accommodate a mega-sized Contact for Further Information vessel. The East Container Terminal (ECT) is due for Mr. Upul Jayatissa (Chief Manager - Marketing & completion in 2018, while the West Container Termi- Business Develop) 19 nal is expected to be operational by 2023. Sri Lanka Ports Authority 19, Chaithya Road, Opportunities for Foreign Investment Colombo 01. Bids are expected to be invited under the public-private Tel: +94 11 2399464 partnership scheme for the development of the East Mobile: +94 71 8688322 Container Terminal.20 Email: [email protected]

Image source: https://www.flickr.com/photos/9508280@N07/25470240960/

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Bandaranaike International Airport Phase II Stage 2

Figure 5: Artistic Rendition of the Bandaranaike Interna- tional Airport Terminal 2

Current Status: Ongoing Funding Agency: Japan International Cooperation Agency Total Estimated Project Cost: JPY 45,428 million Duration of the Project: Sep 2014 – Nov 2019 Implementing Agency: Airport and Aviation Services Limited24

Source: Daily News, 2016.

Overview Rapid exit to the Colombo Katunayake Highway will be provided directly from the terminal.27 Extension Following the end of the civil conflict in 2009, tourist of the parking apron will also be undertaken.28 The arrivals to the country have experienced a significant existing apron has 25 parking stands which includes 8 growth. Between 2011 and 2015, arrivals surged from contact parking positions and 17 remote parking posi- 855,975 to 1,798,380.21 Consequently, the number of tions. An additional 23 aircraft parking positions will be passengers handled via Bandaranaike International developed under the project, which includes 16 contact Airport (BIA) in 2015 reached 8.5 million, substantially gates.29 exceeding its current capacity of 6 million passengers. Stage 2 itself is to be implemented in two stages and In order to overcome the BIA’s capacity constraints, the first stage is scheduled to be completed by early and cater to anticipated increased demand, the project 2017. aims to increase capacity to 15 million passenger move- ments per annum while improving passenger conve- Opportunities for Foreign Investment nience with the expansion of airport infrastructure and facilities. With the completion of Terminal 2, and increase in handling capacity to 15 million passengers per annum, The project will also facilitate the goal of achieving a number of additional facilities will be incorporated aviation hub status, as envisioned by the Airports and 22 within the BIA and surrounding areas. These will be Aviation Services (AASL) based on the strategic open for interested investors and include the following: location of Sri Lanka with respect to the international air routes. Sri Lanka is located midway between the ▪▪ Duty free shopping aviation hubs in the Asia- Pacific region and the Middle ▪▪ Restaurants East.23 ▪▪ Cleaning services Activities ▪▪ IT Services The main project activity under Phase II Stage 2 Additionally, under the Western Region Megapolis project will be the construction of Terminal 2 covering Project, a proposed Aero City will be developed at Ka- 18,000 sq m in floor area and required facilities of the tana. It will include the following developments: BIA.25 A multi-level terminal with two pier passenger terminals for separate arrival and departure facilities is ▪▪ Transit Hotel at BIA to be built with the safety requirements of an interna- ▪▪ Proposed Second Runway of BIA tional airport, an inline baggage handling system and ▪▪ Business Park an access control system with surveillance cameras.26

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▪▪ Convention and Expo Centre Contacts for Further Information ▪▪ Commercial and big block retail establishments Derick Karunaratne ▪▪ Recreational areas including golf course, public Corporate Communications Officer spaces and Airport and Aviation Services (Sri Lanka) Ltd. Bandaranaike International Airport, Katunayake, ▪▪ Community parks Sri Lanka ▪▪ Establishment of the Hotel School Tel: +94 11 2263140 Mobile: +94 73 041799 30 ▪▪ Car Rental and Transport Facilities Fax: +94 11 2251995 Email: [email protected]

Nayana Mawilmada Head of Investments - WRMPP 10th Floor, Wing “C”, Sethsiripaya Stage II Battaramulla, Sri Lanka Tel: +94 112186091 Mobile: +94 77 921 3601 Email: [email protected] Web: www.megapolis.gov.lk

Image source: https://si.wikipedia.org/wiki/

Figure 6: Draft Plan for Aero City under the Western Region Megapolis Master Plan

Source: WRMPP, 2016.

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Colombo International Financial City (CIFC)

Figure 7: Proposed Land Recla- mation under the Colombo Port City Development Project

Current Status: Ongoing Funding Agency: China Communications Construc- tion Company Ltd. Total Estimated Project Cost: USD 1,400 million Duration of the Project: Sep 2014 - 2040 Implementing Agency: Ministry of Megapolis and Western Development

Source: Central Engineering Consul- tancy Bureau, 2015.

Overview Expected Benefits In August 2016, the Ministry of Megapolis and West- During the reclamation phase of the project, job ern Development, on behalf of the Government of Sri creation is expected to be more than 1700 direct jobs Lanka, together with the Urban Development Author- per annum while its impact on indirect employment ity (UDA) and the CHEC Port City Colombo (Pvt) Ltd is estimated to be around 4500. In addition, a further (the Project Company) signed a Tripartite Agreement 4500 would be indirectly employed at the quarry sites for the development of a new Colombo International and quarry supply chain during the reclamation. The Financial City (CIFC). The CIFC, initially referred to project will: as the Colombo Port City, under the ambit of the West- ▪▪ Position Colombo as the financial hub between ern Region Megapolis Planning Project (WRMPP), is a Singapore and Dubai33 proposed offshore city in Colombo, Sri Lanka. ▪▪ Establish an efficient financial process while working The city is to be built on 296 ha of reclaimed water- close with the countries in South Asia, Middle East front land adjacent to the Galle Face Green. This will and Europe. be the biggest direct foreign investment development project to be implemented in Sri Lanka.31 The location ▪▪ Incentivise international banks and financial institu- of the CIFC takes advantage of twin attractions, being tions to set up branches in the International Finan- in proximity to the Colombo Central Business District, cial Zone as envisaged in the WRMPP, and the oceanfront living, ▪▪ Attract FDIs particularly for high value added ser- in a carefully master‐planned area. vice sector investments. The CIFC will be developed under an open space ▪▪ Establish headquarters of export manufacturing concept, with a network of public parks and open establishments and generate a wide range of direct waterfront, large scale and small‐scale streets, public and indirect benefits to the national economy. squares and small plazas, with almost 91 ha being made available for public purposes.32 It also envisions the ▪▪ Increase higher paying jobs related to international creation of a new area of green landscape in Colombo, trade and the movement of greater amounts of encompassing a parkland area of approximately 45 ha imports and exports through the Colombo port. – all accessible to the general public. ▪▪ Create higher paying service sector jobs through . new investments in buildings and infrastructure at the Colombo Port City, and the attraction of new

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businesses. This includes job creation in a wide vari- ▪▪ Offshore breakwater construction ety of service sectors, including: ▪▪ Sand dredging for land reclamation from approved –– Direct employment in professional and technical borrow areas occupations in areas such as Information Com- ▪▪ Land reclamation in stages munication Technology (ICT), banking, fund management, investment banking, real estate, Phase 2: Construction of the buildings and infrastruc- retail and tourism sub‐sectors, and; ture of the Financial City in order to attract investment –– Indirect employment generated through multi- and encourage international financial giants to establish 34 national firms, retail outlets, restaurants, local their regional headquarters in the city. government services, schools, hospitals, etc. and Once the city is constructed it will be declared as a ter- firms that provide services to the Colombo Port ritory of Sri Lanka.35 Thereafter the reclaimed area will City companies such as office supplies and equip- be declared as an area of authority under the UDA Act ment, utilities, communications and professional and/or the proposed Colombo International Financial services. The first year of business operations in Centre Law.36 the Colombo Port City is expected to generate 2,500 employment opportunities and thereafter Opportunities for Foreign Investment rising to over 65,000 in the 23rd year. The CIFC will consist of a financial zone creating an ▪▪ Create public amenities such as parks, theme parks environment to attract international financial services.37 and other recreational facilities within Colombo’s Proposals have been put forward to replace the existing Central Business District for all strata of society to exchange control law with a new exchange manage- enjoy. ment act, through which foreign investors will be allowed to bring funds to any bank.38 Activities The project commenced construction on 16 September Contact for Further Information 2014. A 25-year development period is anticipated for Nayana Mawilmada the CFIC to be fully developed: Head of Investments - WRMPP 10th Floor, Wing “C”, Sethsiripaya Stage II Phase 1: Reclamation of 269 ha, sand extraction and Battaramulla, Sri Lanka construction of coastal structures to protect the landfill Tel: (+94) 112186091 for the proposed Colombo Port City. The reclamation Mobile: +94 77 921 3601 is scheduled for completion by March 2019 and mainly Email: [email protected] consists of the following activities: Web: www.megapolis.gov.lk

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Endnotes

1 ‘Megapolis’ is derived from the Greek world ‘megalopolis’ which means mega city. 2 Western Region Megapolis Planning Project, The Megapolis – Western Region Master Plan, 2016. 3 Waste processing and Rail Transit System in Colombo have been identified as priority infrastructure projects under the WRMPP and preparation for their implementation is already ongoing.

4 For more details, see the Transport Proposal for Western Region Megapolis Development Project available at: http://megapolis.gov.lk/pdf/Transport%20Plan_May%202016/Transport-Master-Plan-Web-Version-01.pdf [accessed 26 May 2016]

5 The Colombo Port City Development Project will be facilitated under this aspect of the WRMPP. 6 Siemens PLC signed a Memorandum of Understanding (MoU) with Ministry of Megapolis and Western Develop- ment to offer expertise and best practices from its Smart City solutions. For more details, see http://www.colom- bopage.com/archive_16A/May23_1464026758CH.php [accessed 26 May 2016]

7 For more details, see the WRMPP Projects Identification Document, available at: http://megapolis.gov.lk/pdf/Proj- ects-Identification-Document-V3.pdf [accessed 26 May 2016]

8 For more details, see Draft Megapolis Regulations and Guidelines, available at: http://megapolis.gov.lk/pdf/Regu- lations%20Report_May2016/WRMPP-Regulations-Draft_May16.pdf [accessed 26 May 2016]

9 SL, Singapore ink agreement to develop Western Region Megapolis’, DailyFT, 19 July 2016, available at: www.ft.lk/ article/555764/SL--Singapore-ink-agreement-to-develop-Western-Region-Megapolis [accessed 23 November 2016]

10 Ibid 11 Airport and Aviation Services (Sri Lanka) Ltd, Invest in MRIA, available at: http://www.airport.lk/mria/invest_mria/ investment_opportunities.php [accessed at 27 May 2016].

12 Sri Lanka Ports Authority, of Hambantota Request for Proposals, 2016. 13 Proposals are already underway to extend the expressway to Hambantota. 14 Sri Lanka Ports Authority, of Hambantota Request for Proposals, 2016. 15 Sri Lanka Ports Authority, available at: http://www.slpa.lk/port_hambantota.asp?chk=4 [accessed at 27 May 2016]. 16 Budget Speech 2016. November 2015. 17 Sri Lanka Ports Authority, Request for Proposal – Operation of Bunkering Facility at Port of Hambantota, 2016, avail- able at: http://www.slpa.lk/Tenders/Advertisement%20RFP-Bunkering%20(2)-21032015%20%20advertisement.pdf [accessed 27 May 2016].

18 Asian Development Bank, Colombo Port Expansion Project Completion Report, 2015. 19 Central Engineering Consultancy Bureau, Proposed Colombo Port City Project – Supplementary Environmental Impact Assessment Report, 2015.

20 ‘ADB to support Sri Lanka expand Colombo Port operations using PPP’, News.lk, 26 February 2016, available at: http://www.news.lk/news/business/item/12368-adb-to-support-sri-lanka-expand-colombo-port-operations-using- ppp [accessed 26 May 2016] ‘Sri Lankan Colombo container port to expand capacity; emerges as global hub’, Hellenic Shipping News, 27 April 2016, available at: http://www.hellenicshippingnews.com/sri-lankan-colombo-container-port-to-expand-capaci- ty-emerges-as-global-hub/ [accessed 26 May 2016]

21 Central Bank of Sri Lanka, Annual Report 2015, 2016.

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22 ‘Airport and Aviation Services (Sri Lanka) Ltd, Annual Report 2014, 2015, available at: http://www.airport.lk/aasl/ business_info/2014_annual_rpt.pdf [accessed at 27 May 2016].

23 ‘BIA - The Continuously Expanding Gateway to Sri Lanka’, Airport and Aviation Services (Sri Lanka) Ltd, available at: http://www.airport.lk/bia_stageII/index.php [accessed at 27 May 2016].

24 ‘Signing of ODA Loan Agreement with the Democratic Republic of Sri Lanka’, Japan International Cooperation Agency, available at: http://www.jica.go.jp/english/news/press/2011/120328.html [accessed at 27 May 2016].

25 ‘Bandaranaike International Airport Development Project Phase 2’, Japan International Cooperation Agency, avail- able at: http://www.jica.go.jp/english/our_work/social_environmental/id/asia/south/srilanka/c8h0vm000090s3cu. html [accessed at 27 May 2016].

26 Central Bank of Sri Lanka, Annual Report 2015, 2016. 27 ‘BIA - The Continuously Expanding Gateway to Sri Lanka’, Airport and Aviation Services (Sri Lanka) Ltd, available at: http://www.airport.lk/bia_stageII/index.php [accessed at 27 May 2016].

28 ‘Signing of ODA Loan Agreement with the Democratic Republic of Sri Lanka’, Japan International Cooperation Agency, available at: http://www.jica.go.jp/english/news/press/2011/120328.html [accessed at 27 May 2016].

29 ‘BIA Stage Two ready for tender’, Daily News, 28 April 2016, available at: http://www.dailynews.lk/?q=2016/04/28/ business/80051 [accessed at 27 May 2016].

30 Western Region Megapolis Planning Project, The Megapolis – Western Region Master Plan, 2016. 31 ‘Colombo Port City Project Launched’, News.lk,17 September 2014, available at: http://www.news.lk/news/busi- ness/item/2987-colombo-port-city-project-will-be-launched-today [accessed at 27 May 2016].

32 ‘Government Signs Tripartite Agreement for Colombo International Financial City’, News.lk, 14 August 2016, avail- able at: http://www.news.lk/news/sri-lanka/item/14152-government-signs-tripartite-agreement-for-colombo-interna- tional-financial-city

33 ‘Colombo Port City to be transformed into an International Financial Centre’, Ministry of National Policies and Eco- nomic Affairs, available at: http://www.mnpea.gov.lk/web/index.php?option=com_content&view=article&id=150&- catid=9&Itemid=112&lang=en [accessed 23 November 2016]

34 ‘Making Colombo A Global Financial Centre’, Pathfinder Foundation, 17 November 2015, available at: http://path- finderfoundation.org/pf-projects/on-going/view-point/266-making-colombo-a-global-financial-centre [accessed 02 December 2016’]

35 Ibid 36 Ibid 37 ‘Financial City to transform Colombo’, Opportunity Sri Lanka, 25 August 2016, available at: http://opportunitysril- anka.com/financial-city-to-transform-colombo/ [accessed 02 December 2016]

38 ‘Sri Lanka capital to have International Financial Centre’, Lanka Business Online, 20 November 2015, available at: http://www.lankabusinessonline.com/sri-lanka-capital-to-have-international-financial-centre/ [accessed 02 Decem- ber 2016]

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