5/5 Mohamed Sabri Isma L. 2 years ago on Google
It
is
now
under
development
on
reclaimed
ground
close
to
the
Galle
Face
Green,
and
it
will
serve
as
a
special
economic
zone
and
International
Financial
Center
for
Colombo,
Sri
Lanka.
It
will
be
the
country's
first
international
financial
center.As
of
January
2018,
all
of
the
land
reclamation
work
has
been
accomplished.In
2017,
it
was
estimated
that
the
cost
would
be
US$
15
billion.
As
part
of
China's
Belt
and
Road
program,
the
project
is
being
funded
by
the
Chinese
government.The
Port
City
Commission
Bill,
which
would
create
the
Colombo
Port
City
Special
Economic
Zone
and
Economic
Commission,
was
adopted
by
the
Sri
Lankan
Parliament
in
May
2021.The
port
city
would
need
the
reclamation
of
around
269
hectares
of
land.One
hundred
and
sixty-six
hectares
(116
hectares)
is
held
by
the
China
Communications
Construction
Company
(CCCC),
which
is
in
turn
controlled
by
the
China
Harbor
Engineering
Company
(CHEC),
while
the
Sri
Lankan
government
has
set
aside
another
91
hectares
for
public
areas.In
November
2015,
land
reclamation
began.
According
to
the
Prime
Minister,
at
a
question-and-answer
session
in
July
2018,
land
reclamation
would
be
completed
within
one
year
and
development
would
begin
the
next
year,
and
that
the
government
was
seeking
aid
in
developing
the
legal
construct
for
the
administrative
region.According
to
the
Ministry
of
Megapolis
and
Western
Development,
this
project
was
successfully
finished
in
January
of
this
year.
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