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Panchikawatte
re-development project takes off Surath Wickramasinghe,
Chairman, SWA (Surath Wickremesinghe Asso-ciates) given the contract
to redevelop the Panchikawatte triangle, said that preliminary work
was moving smoothly with all the parties involved working together
to make this project a success. Under an MoU
with the UDA, SWA has the discretion to decide to carry out the
feasibility study in collaboration with a party who may later become
a shareholder to the Corporate Vehicle. The detailed Technical Design
Proposal, the plan of action and the Financial Feasibility Study
should be submitted in six months while the entire project is expected
to be completed within four years. The 10-year
old project is aimed at keeping pace with the expected rapid urbanization
by providing adequate and sufficient infrastructure inclusive of
housing stock to the increasing population in major cities of Sri
Lanka. The most strategic
location among the 10 sites is at Panchikawatte comprising the regeneration
of a triangular block of prime land 14.04 hectares in extent which
is close to the Colombo's main port, Central Transport Terminals,
Commercial Banks and the Supreme Court Complex. Its overall aim
is to enhance the economic competitiveness of Colombo city. The project
is to redevelop an inner core of 7.49 hectares, initially aiming
to provide new and permanent housing for about 2,040 families squatting
on the land at Pradeepa Mawatha, Araliya Uyana, and Abeysingharamaya
Road. Wickremesinghe
says the project would be one of the pioneering and largest projects
undertaken in Sri Lanka with an estimated cost of $ 400 million.
Once the land is cleared there would be sufficient space for a car
park that could accommodate 2,500 vehicles and ease congestion in
this part of the city. A huge one-stop shopping centre for the motor
and electronic industry, offices and multi-storied buildings and
a 24-hour entertainment and leisure centre with cinemas, restaurants,
and other recreational centres would also be constructed. Wickremesinghe said a major constraint in fulfilling much of the development work needed in the country is the difficulty in finding adequate funds. While the government plans most of this development work, it tries to procure funds from either international funding agencies or from foreign countries by way of outright grants or loans. However, the Panchikawatte Redevelopment Scheme would be unique, although proposed by the government, it would not be a burden to the government as the funds for the project would be procured by the private sector. Though the Panchikawatte project is a Public-Private sector partnership the state would only play the role of facilitator with no financial commitment. Oil
palm generates more than half of Carson's profit The holding
company with a diversified business, mainly oil palm, brewing and
investment holdings, has about 18,000 hectares of oil palm plantation
in Indonesia and Malaysia. The Group's
consolidated profit before tax more than doubled, rising 132 percent
to Rs. 745.6 million for the year ended March 31, 2003. Turnover
was Rs. 4.04 billion, up 24 percent from the previous year. Chairman
Tilak de Zoysa described the year under review in the company's
annual report as "favourable to most businesses". The Group's
two core business of plantations and brewery together accounted
for 72 percent of consolidated profit before tax. PT Agro Indomas,
its Indonesian subsidiary, helped enhance the performance of the
Group's South East Asian palm oil business. It became a
"self-financing" venture in its second year of commercial
operation and contributed Rs. 311 million to profit before tax. The entire
plantation of 12,600 hectares in Central Kalimantan is expected
to reach full maturity by 2004/2005. Carson's profits were also
boosted by strong palm oil prices in the international edible oil
market, the recovery in prices being supported by increased demand
from China and India. The Malaysian
plantation generated a profit before tax of Rs. 69 million on a
turnover of Rs. 145 million while the Indonesian plantation contributed
Rs. 311 million in profit before tax on a turnover of Rs. 1.2 billion. Asian
Print Congress to showcase Sri Lanka SAPC 2003 is
expected to take place from August 14 to 17. He said the
event would enable those involved in the printing industry to share
their experiences in other parts of the world. Chamika Godamanna,
Chairman, SAPC Exhibition said a large number of countries have
expressed their desire to participate but organisers were doubtful
whether the large contingent expected from China would arrive because
of SARS. The Indian
response has been excellent as there were many inquiries with some
associations confirming their participation. Sri Lanka is
hosting the event for the first time and it is sponsored by the
Sri Lanka Association of Printers under the theme 'Print Miracle
- Global Gateway'. Visitors are expected from SAARC countries, the
Middle East, Europe, Africa, South East Asia and the Far East. They include
professionals in the following spheres - printing, newspapers, packaging,
publishing, advertising, design studios, etc. A sizeable part of the 3,500-odd printing establishments in Sri Lanka and nearly 500 in the South Asian Print Market are expected to attend. (QP) Royal
Jordanian adds extra flight to Colombo The Monday
flight is in addition to its Thursday and Saturday services while
state-of-the- art Airbus A-310 aircraft will be utilized on all
three days of operations. The Monday
flight will arrive in Colombo at 7.45 a.m., with departure from
Colombo at 9.00 am, to reach Queen Alia International Airport in
Amman at 12.45 pm. The inbound flights from Amman to Colombo will
be on Sundays, Wednesdays and Fridays. Passengers travelling from Colombo will be offered one night's free accommodation at a four star hotel in Amman with meals and airport transfers. |
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