Port City legislation to Parliament by March, Work on three towers to commence

Jan 03, 2018 (LBO) – Sri Lanka’s Port City legislation would be brought before Parliament by March while construction on the first permanent buildings are also due to commence shortly, senior officials said. These comments were made following a visit of the newly reclaimed land of the island by Prime Minister Ranil Wickremesinghe and Megapolis and Western Development Minister Champika Ranawaka. During the Premiers visit it was revealed that legislation for the Colombo International Financial City is expected to be brought before Parliament in March this year and that all infrastructure work would have been completed by 2020. Officials also said that a US 1 billion dollars will be invested in the construction of three 60-storey buildings in the premises. "China Harbour (company) will put in US 1 billion dollars to build three buildings," Ranawaka said. "These three 60-storey buildings will be able to attract more foreign companies into Sri Lanka." When complete the city will have reclaimed 269 hectares with 116 hectares being handed over to China Communications Construction Company (CCCC), which is the parent company of China Harbour Engineering Company (CHEC). The remaining land, which will be owned by the Sri Lankan Government and will be divided with 62 hectares to be used to set up a financial city and 91 hectares to be used as public spaces.