Jul 24, 2019 (LBO) – Sri Lanka’s Minister for Megapolis and Western Province Development said the Ministry of Local Government will be tabling an act in parliament to add ‘Port City’ as part of the Divisional Secretary of Colombo.
The new city will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations.
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.
Meanwhile, Sri Lanka launched an updated map of the island incorporating the development projects, including the US 1.4 billion dollars Port City.
The notable changes in the new map are the Colombo Port City, the Hambantota Port in the south, highways and the Moragahakanda Reservoir in the north-central province.