Colombo Port City

(The Belt and Road Initiative)

Updated:2017-04-20 |

Colombo Port City

Colombo Port City is currently Sri Lanka’s largest foreign investment project located in Colombo’s central business district. It will be built on land reclaimed from the sea adjacent to the existing Port of Colombo. It will feature a golf course, hotels, shopping malls, waterparks, condominiums and a marina.

The project will be implemented by the Communications Construction Company Limited (CCCC) and the Sri Lanka Ports Authority (SLPA). Rather than being an inter-governmental project, it relies on public-private partnerships for funding. The Sri Lankan government is responsible for environmental impact assessment, overall planning, and contractor licensing. Chinese companies will focus on funding, project planning, construction, and operations management.

The Port City will involve a combined floor area of over 5.3 million square meters, with an initial direct investment of US$1.4 billion. It is expected to attract further development investment of US$13 billion, and create 83,000 long-term jobs.

After groundbreaking on September 17, 2014, the project was delayed as a result of Sri Lanka’s general election and subsequent transfer of power to a new administration. After repeated efforts by China, a new tripartite agreement to proceed with the construction of the project was signed in August 2016 between Sri Lanka’s Urban Development Authority, the Ministry of Megapolis and Western Development, and the China Harbor Engineering Company.