Apr 09, Colombo: Sri Lanka's Minister of Megapolis and Western Development Patali Champika Ranawaka said a new authority will be set-up for the administration of the Colombo Port City.
Addressing a meeting with local government representatives in Kandy, Minister Ranawaka said that lands within the Colombo Port City are fully owned by Sri Lanka and it will operate as a free trade zone. He added that the Port City will not fall under the purview of the Colombo Municipal Council.
The Minister explained that the port city land has been divided into 74 plots and the first four plots will be given for the International Financial City, which is invested by a Chinese company, an international hospital, international school, and an international conference hall. He also noted that, a park and a Yacht Marina will be set up on the four plots of land by 2024.
Minister Ranawaka said that the necessary laws pertaining to the Port City will be prepared by Parliament in May. He said measures would be taken to gazette the port city as a part of Sri Lanka and establish it under the Urban Development Authority.
He said the Port city will not be administered by the Colombo Municipal Council. A special administrative authority will be formed to administer the new city and a separate election will be held for the residents.
The Minister also said a new road will be built from the Port City to Chaithya Road and from there and underground road will be constructed along the coast to Kollupitiya junction. He said they have received an interest-free loan to finance the construction.
The government has already provided electricity, water and waste management services to the Port City.
"This is a huge investment to the country, an attraction. We hope to provide 80,000 jobs to professionals who are seeking to migrate overseas," the Minister said