Chinese President to inaugurate Port City project at the Colombo International Container Terminal
Visiting Chinese President Xi Jingping will inaugurate the proposed Port City project at the Colombo International Container Terminal (CICT) today, Sri Lanka Ports Authority said in its press release.
The work on the breakwater for the project commenced last October with a total investment of USD 15 billion.
Sri Lanka Ports Authority has invested more than USD 3 billion on all present port development projects which include Colombo Port Expansion Project, Magam Ruhunupura Mahinda.
Rajapaksa Port in Hambantota, Galle Port Development, Oluvil Port Project, Trincomalee and KKS Port Development Project.
Nearly 230 hectares (about 575 acres) of water front sheltered by the new breakwater will be reclaimed at an investment of approximately USD 900 million by a foreign investor. The plan has been given approval by the Standing Cabinet Appointed Review Committee (SCARC).
According to SLPA Chairman Dr. Priyath B. Wickrama the area developed as a port city with roads, water, electricity, communication facilities to set up shopping areas, water sports area, mini golf course, hotels, apartments, recreation areas and with a lot more additions that would turn the area into a modern city.
"These innovations will not only change the geography and outlook of Colombo but also extend immense strength to the government’s efforts to ensure continuity and dedication towards realizing the goal of making Sri Lanka, the most competitive and preferred maritime and logistics centre in the Asian region," the SLPA said.