Sri Lanka To Accelerate Colombo Port City Development

The Sri Lankan government will firmly support and accelerate the development of the Colombo Port City project constructed by China to ensure that it will emerge as a new business hub in the island country, Prime Minister Mahinda Rajapaksa said at a grand ceremony marking the opening of the project for the investors on Saturday.

The Port city, spanning through 269 hectares of reclaimed land from the sea, was officially declared part of the Colombo District yesterday, under the patronage of Rajapaksa, reported Xinhua news agency.

Chinese Ambassador to Sri Lanka Cheng Xueyuan and officials of the Chinese Embassy were also present on the occasion.

The Port City is Sri Lanka's largest Foreign Direct Investment project and is expected to attract billions of US dollars of investments in the coming years. The project is expected to create over 80,000 jobs and aimed at transforming Sri Lanka into a regional business and financial hub.