Sri Lanka: Colombo Port City To See $15 Billion In Investments

The Colombo Port City when completed would see investments of US$ 15 billion. The land filling stage of the project has now been completed. Once completed the city can accommodate a population of over 250,000, an official of the Mega polis and Western Province Development Ministry said.

Port City would also have several specialized areas including a marine university area, recreation area, residential area and also the financial district, Colombo International Financial City (CIFC) is a special financial zone that is expected to become an offshore financial center.The completed city will have reclaimed 269 hectares with 116 hectares being handed over to China Communications Construction Company (CCCC), which is the parent company of China Harbour Engineering Company (CHEC).

The remaining land, which will be owned by the Sri Lankan Government and will be divided with 62 hectares to be used to set up a financial city and 91 hectares to be used as public spaces.

Port City when completed would be similar to small city in the world like the Canary Wharf area in London. He said that this project is also in the main route of the proposed Silk route of China and it would be of tremendous importance.