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Colombo Port City project back on track

Colombo Port City project back on track

 

China's biggest investment project in Sri Lanka, the Colombo Port City Project which was suspended for months by the new government is to continue.

Deputy Minister of Public Enterprise Development Eran Wickramaratne yesterday (April 07) said, the Colombo Port City Project, funded by China, was recently given green light to resume after it was suspended by the government in March last year due to environmental concerns.

He said that the project will now be granted a special status as a unique financial and business district of Sri Lanka and will be included in the government's mega development plan.

"The Port City will become a special financial and business district of Sri Lanka which will have its own laws. Of course the Supreme Court of Sri Lanka must have the final say," he said.

There will be a separate financial and legal system operating in the Port City "where people can come and transact business internationally," according to the deputy minister.

Courtesy: Department of Government Information

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