Page 31 - CPM Sri Lanka-Chartered Manager-Sept. 2021
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THE INSTITUTE OF CHARTERED PROFESSIONAL MANAGERS OF SRI LANKA
JANUARY 2021
directed to sourcing required material and services
from local suppliers and subcontractors creating
sizable supply chain opportunities, all of which have
tremendous multiplier effect on the local economy.
The Project Company is also obtaining services
from local consultancy firms in various professions
including engineering, architectural, legal, financial
services, real estate, media and most of them had
to work alongside foreign consulting firms and
professionals with international expertise in their
respective field, which I am sure gave us ample
opportunity to up our knowledge.
How has the covid-19 pandemic affected the
progression of the Port City project? What
measures have been taken to recover?
The pandemic undoubtedly affected the progression
of the project, particularly during early 2020, where
there were both labour and material shortages that
resulted in a minimal level of operations for over
two months. Nevertheless, internal infrastructure
development and landscaping works have since
progressed satisfactorily, and we have now over 100Ha
ready for Investment.
Limitation on global mobility has hampered our
marketing and investment promotion activities,
As the largest Public Private Partnership to date Nonetheless, we are moving forward with a 5-year
and a Strategic Development Project, how strategic plot roll out plan, which seeks to develop
has the Port City project contributed to the 22 plots totaling 65 ha. These development activities
economy over the past few years? require a cumulative investment of over $ 5.6 bn, which
will assist to shore up much needed foreign reserves of
Over the years, the Project has created opportunities the country. We have strategized a marketing outreach
for over 8,000 local workers in the construction during these challenging times where competition
sector over time – we employed approx. 1,500 at for foreign capital in this region is quite intense and
our peak and about 900 currently. As of today, the we have to be ready to compete with our regional
Project Company has invested over $ 1.2 bn of its $ 1.4 peers if we are to be successful. We have set-up
bn commitment, demonstrating that the Port City permanent regional marketing offices in India, Middle
has already generated substantial economic value East, Singapore and China and we will also conduct
addition to Sri Lanka. A part of this investment was roadshows to aggressively promote Sri Lanka and the
Port City Project.
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