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Sri Lanka to accelerate Colombo Port City project

Sri Lanka to accelerate Colombo Port City project

India Blooms News Service | @indiablooms | 08 Dec 2019, 02:21 pm

Colombo/UNI: The Sri Lankan government will accelerate the development of the Colombo Port City project built by China to ensure that it emerges as a new business hub in the island, Prime Minister Mahinda Rajapaksa said.

Rajapaksa visited the Colombo Port City along with Chinese Ambassador to Sri Lanka Cheng Xueyuan on Saturday to officially declare the 269 hectares of land reclaimed from the sea for the project as part of the Colombo district.

He pledged to accelerate  the implementation of the preferential policies of the Colombo Port City from the government level as early as January 2020 and strive to build the project into a new business card for Sri Lanka at the earliest, the Colombo Port City said in a statement following discussions with the prime minister.

The Colombo Port City is Sri Lanka’s largest Foreign Direct Investment project and is expected to attract billions of dollars of investments in the coming years.