PHOTO: Colombo Scheme Moves Forward, Half Way Done
- Business & Finance
Megapolis and Western Development Minister, Patali Champika Ranawaka, today toured the Port City land reclamation operations in Colombo, Sri Lanka.
According to Minister Ranawaka, China Harbor Engineering Company (CHEC) completed 50% of all land reclamation work so far.
The Port City project is currently the single largest private-sector development project in Sri Lanka, and it is envisioned to boost the economy alongside the country’s existing development plans with state-of-the-art living, working, public and recreational spaces.
Construction of the Colombo Port City project was launched on 17 September 2014 by Sri-Lankan President Mahinda Rajapaksa and the Chinese President Xi Jinping.
About the project
The Colombo Port City project requires seabed reclamation of approximately 269 hectares, producing land connected to the Fort district and existing CBD area in central Colombo, and adjacent to Colombo International Container Terminal.
This will create 5.65 million m² of gross developable area, to be used for commercial, residential, marina, office, retail, education, medical, hospitality, leisure, cultural, exhibitions and conventions, public parks and beaches.
The private investment for Colombo Port City has come from China, with the China Harbor Engineering Company (CHEC) entering into a Tripartite Agreement with the Ministry of Megapolis and Western Development and Urban Development Authority, to form CHEC Port City Colombo (Private) Limited (CPCC).