Cabinet clears Asiri Hospital, Gateway University leases at Colombo Port City

The Cabinet of Ministers this week approved lease agreements allowing Asiri Port City Hospital (Pvt) Ltd and Gateway International University (Pvt) Ltd to establish an international hospital, school, and university at Colombo Port City, with a combined investment of around US$ 150 million.

President Ranil Wickremesinghe in his capacity as the Minister of Investment Promotion on Monday sought the approval of the Cabinet of Ministers to enter into agreements with the relevant companies to lease the portion of land for the hospitals, schools and universities as per the provisions of section 6(1) (C) of the Colombo Port City Economic Commission Act No.11 of 2021.

Asiri Port City Hospital (Pvt) Ltd plans to develop a hospital in the Port City with an investment of US$ 100 million. The state-of-the-art hospital will have a 500-plus bed capacity. 

Earlier this year, the Cabinet approval was granted to designate the venture as a ‘Primary Business of Strategic Importance’ and hence making it to qualify for a series of exemptions or incentives.

Asiri Port City Hospital Ltd. is a fully owned subsidiary of Asiri Hospital Holdings PLC led by Softlogic Group Founder and Chairman/Managing Director Ashok Pathirage.

Meanwhile, Gateway International University (Pvt) Ltd plans to invest US$ 25million in setting up an international school and another US$ 25 million to setup an international university in the Port City, located adjacently. 

Earlier, Gateway Group Chairman Harsha Alles noted that the proposed ventures would be implemented with a British partner.

As per the section 6(1) (C) of the Colombo Port City Economic Commission Act No.11 of 2021, powers have been vested to the Commission to lease the marketable government lands located within the jurisdiction of Colombo Port City which are entrusted to the Commission. Accordingly, proposals have been called by the Colombo Port City Economic Commission to select the investors for the development of schools, universities and hospitals. (NF)