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A Memorandum of Understanding (MoU) was signed between the Ministry of Western Region Development and the China Huanqui Contracting and Engineering Corporation (HQCEC), a company wholly owned by the Government of China.

The proposed project is for the development of new urban settlements in three areas of the Western Province. The proposal has been prepared in accordance with the urban development strategies formulated by the Urban Development Authority under the guidance of M. H. Mohamed, Minister of Western Region Development.

The project covers 100,000 sq. metres of built up space in Colombo, Gampaha and Kalutara by using low cost and fast construction technologies. The funding for the project will be through a grant/loan from the Government of China.

The conceptual designs and the guidelines will be provided by the Ministry of Western Region Development and the Urban Development Authority. The negotiations are expected to be completed by the end of this month and the loan agreement will be signed by the end of May.

A joint committee comprising three members from each party has been appointed to meet periodically to promote and accelerate the project implementation. The implementation of this project is expected to rejuvenate the construction industry and more such projects are expected to be implemented during this year.

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