Feb 17, 2020 (LBO) – Construction of the building complex in Colombo Port City will commence in the middle of this year at a cost of 15 million US dollars and the first phase is expected to be completed by 2023, the President's Media Division said.
China Communication Construction will spend 1.4 billion dollars for the reclamation activities and infrastructure facilities of the Port City which will change the landscape of Colombo.
Attention was drawn to the plan of the Port City during the National Law Conference held under the patronage of President Rajapaksa recently. Following the event, he made an inspection tour of Port City.
A special committee had been appointed to study legal drafts related to the reclaimed land.
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A special economic service zone will also be declared following the adoption of the same by Parliament and it will be the first-ever dedicated economic zone for services.
The Port City Project is being implemented under a tripartite agreement between the Ministry of Urban Development, Urban Development Authority and China Communication Construction.