Port City confident of attracting USD 5.6 bn within first five years

The Colombo Port City Special Economic Zone was planning to draw 5.6 billion U.S. dollars of Foreign Direct Investments (FDIs) to Sri Lanka in the first five years, a Port City official told journalists recently.

CHEC Port City Colombo Deputy Managing Director, Thulci Aluwihare, told journalists that the investments would start flowing as soon as regulations on the Port City are finalized.

The project will have 180,000 square meters of office space, he said.

The project has not used public funds and it is a 100 percent FDI-funded project, Aluwihare said.

“Now Sri Lanka has marketable land worth 2.5 billion dollars, at least. This asset is now complete and ready for monetization,” he said.

Once fiscal incentives and ring-fencing regulations are finalized investors can confidently come in, he said.

(RK)