The Chinese Funded Port City of Colombo
Built on a large tract of land reclaimed from the sea, the Chinese funded Port City of Colombo is part of China’s Belt and Road initiative.
Standing on 269 hectares of reclaimed land, the project, once completed is expected to attract investment worth billions of dollars. Officials involved in the project claim that it would change Sri Lanka’s economic direction, and will be the economic hub of South Asia.
Co-developed by the Sri Lanka government and China’s CHEC Port City Colombo (Pvt.) Ltd. the project is estimated to cost 1.4 billion dollars.
Aimed at attracting global multinational corporations, the Port city will function as a special jurisdiction, with its own commercial and economic laws.