In The Press
Colombo Port City Project Launched
The Colombo Port City Project was launched by Chinese President Xi Jinping and President Mahinda Rajapaksa at a grand ceremony this morning (17) . The launch of the Project is expected to change the skyline of our city. This will be the largest single foreign direct investment of around US$ 1.5 billion for the land development that has potential to attract around US$ 5 billion from all over the world.
Constructions of the port city is carried out by China Harbour Engineering Company under an MOU signed by Sri Lanka Ports Authority with China communication construction company in peoples republic of China at an total investment of 1,500 million US dollars
The New Port City is a concept of President Mahinda Rajapaksa who was apparently inspired while on a visit to inspect the landfill being constructed for the Colombo South port. Colombo Port City is a proposed offshore city in Colombo, Sri Lanka which is planned to be built on reclaimed land adjacent to the Galle Face Green. This is the biggest direct foreign investment development scheme ever implemented in Sri Lanka. An extent of 500 acre land fill up in the sea off Galle Face Green is developed as the port city.
This massive project will generate a huge number of direct and indirect job opportunities. The port city comprised with sport complexes, mini golf ground, housing and office complexes, luxury hotels and many other modern facilities.
According to China Harbour Engineering Company over 70 per cent of the workforce of all projects carried out by the company was recruited from Sri Lanka and this rule also applies to the Colombo Port city project.(KH)