Land reclamation for the mega port city project in Colombo was formally completed today and phase 2 of the project has now begun.
The last of the four dredgers used for sand mining operations for the project, left the project site today.
The Chinese Ambassador to Sri Lanka Cheng Xueyuan and Minister of Megapolis and Western Development Patali Champika Ranawaka and the Managing Director of CHEC Port City Colombo Jiang Houliang attended an event held today to formally mark the end of the land reclamation for the project.
The Ministry of Megapolis and Western Development said that 269 hectares of land from the ocean has been reclaimed for the project and phase 2 of the project will now begin.
Sri Lanka is preparing legislation with tax incentives to lure investment into the Port City, a project of China Communication Construction Company (CCCC) through its subsidiary, the state-run China Harbour Engineering Company Ltd.
Sri Lanka anticipates an eventual investment of $15 billion in the project, which includes housing, marinas, health facilities and schools, over the next 30 years.
Last year, a new map of Sri Lanka which includes the Port City at Galle Face and other developments in the country over the past few years, was released. (Colombo Gazette)