Port City basic infrastructure works to be completed by end-2023

Thursday, 9 February 2023 00:47 - - {{hitsCtrl.values.hits}}

The infrastructure development activities of the Colombo Port City, the largest FDI-driven project in Sri Lanka, are slated to be completed by the end of this year, said Investment Promotion Ministry Secretary M.M. Nayeemudeen.

He stated this during the National Steering Committee meeting held at the Ministry of Investment Promotion on Tuesday (07).

“The project implementation is now in full swing with the land reclamation work already completed in 2019. As such, the infrastructure works and landscaping works are progressing and nearing full completion,” Nayeemudeen pointed out.

He also stressed the importance of carrying out the infrastructure development activities according to a predetermined schedule so that deadlines can be met in time. Accordingly, he instructed relevant officials to adhere to a time frame and complete the balance construction activities.

Furthermore, the Secretary assured his intervention to clear up the hindrances that may pop up in future in order to ensure the smooth operation of the Colombo port city project.

Officials representing various ministries and institutions including the Ministry of Defence, Ministry of Public Security, Colombo Port City Economic Commission, CHEC Port City Colombo Ltd., Sri Lanka Port Authority, Colombo Municipal Council and Road Development Authority participated in the meeting.

The Colombo Port City project, with $ 1.4 billion foreign direct investment is co–developed by the Government of Sri Lanka and CHEC Port City Colombo Ltd. under the theme of the Belt and Road Initiative.

Port City will have a 6.30 million square metres of build up space once it is fully completed. In terms of the land area, out of 269 hectares of land acquired, 178 hectares will be made available for investment opportunities in the future. The project, once completed, will have a knock-on effect on the property value of the country.