Port City project to attract more regional investors | Sunday Observer

Port City project to attract more regional investors

Almost 90 percent of the reclamation work and about 70 percent of the breakwater of the Colombo Port City project is over and the marine construction work is due to be completed by mid 2019, Chief Sales and Marketing Officer, CHEC Port City Colombo (Pvt) Ltd, Liang Thow Ming said.

He said they will resume construction work of the breakwater after the south-west monsoon is over. Work is being held up due to the monsoon, he added.

Ming said, they are now in the process of ‘doing test planting’. “”You can see a few trees already,” he said at the Sri Lanka Economic Summit organised by the Ceylon Chamber of Commerce in Colombo.

In the next phase of the project, infrastructure will be developed with utility facilities, roads and parks.

“The residential, commercial and retail space the Port City project creates will be several orders of magnitude more than existing facilities, in Sri Lanka and abroad, as in Canary Wharf, London,” he said.

Answering the questions from the audience on investors Ming said, they plan to attract investors from the region, especially from India. “Our emphasis is on the region. It is ideally located to serve the Indian market.

At present there is no such facility in South Asia or in between Dubai and Singapore. The Southern Indian states will be a huge market,” he said.