Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Monday, 7 October 2013
Krrish project now confronted with environmental issues
The Krrish square mixed development project tainted by scandalous financial deals is yet to get the Environmental Impact Assessment (EIA) approval to kick-start the project, informed sources said.
The Transworks building site at Colombo Fort leased by Delhi-based group Krrish is environmentally not suitable for a mega mixed development project, environmental experts have said. The Business Times learns that a leading environmental consultancy service which carried out a preliminary EIA has concluded that the site located in the heart of Colombo Fort was not feasible for such a mega project as it will create heavy vehicular traffic in peak hours and environmental pollution due to emissions and waste disposal. Recommendations made in the EIA report have not been followed by the investors, Environment Ministry sources said adding that EIA approval on drawings and building plans is essential before the test filling.