Sri Lanka

Colombo Port City geared to key investments

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With the opening of the Colombo Port City for investors last December, Sri Lanka is expected to attract billions of U.S.

dollars for investments and create over 80,000 jobs, transforming the island into a regional business and financial hub in the coming years.The first stage, which includes the land reclamation and filling is now completed and the second phase of the Port City project has now commenced.

US$1.4 billion was invested to reclaim land from the sea.Chinese Prime Minister Xi Jinping and Sri Lankan President Mahinda Rajapaksa in 2014 in Colombo for the signing for the Port City project Under the second phase, highways, electricity, water systems and common amenities will be constructed.

In December, Prime Minister Mahinda Rajapaksa declared the Colombo Port City 269 hectares as part of Sri Lanka.

Chinese Ambassador to Sri Lanka Cheng Xueyuan and officials of the Chinese Embassy were also present on the occasion.




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Category: Srilanka


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