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* Foreign companies express interest in investing in Colombo Port City
Sat, Mar 7, 2020, 09:53 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 07, Colombo: The Port City Project says that several foreign companies have expressed their willingness to invest in the Colombo Port City.

According to the CHEC Port City Colombo (Pvt) Ltd through China Harbour Engineering Company (CHEC), the Colombo Port City development will comprise of 5 different precincts including the Financial District, Central Park Living, Island Living, The Marina and the International Island.

In addition to the new beaches built at one end of the Port City, the inland waterway or the canal and the marina for light vessels make the project more attractive.

Currently, there is only one marina in Sri Lanka, where the world's richest tourists can come by their private yachts. The Port City marina which will have a park, a promontory and a village, will provide these tourists with a broader range of facilities.

“At present, this type of marina for light vessels is operated only in the Port of Galle. However, under the Colombo Port City Project, building such a marina for yachts will surely be a huge investment,” the project officials have said.

There are also facilities in the marina for docking sailing boats and small boats providing sports and entertainment.

A building or a plot of land at a waterfront or facing water is one of the factors that can increase its value. Also the creation of an environment filled with blue water, in addition to the green area of the land is another feature increasing the attractiveness of the Port City.

According to the Port City Development Planning Index, only 60 percent of area of a land plot can be used for buildings and there are 74 such plots.

When completed, Port City Colombo will have over 5.6 million square meters of built space. The city will function as a separately governed entity with its own economic and commercial laws to facilitate operations of global multinational corporations.

Meanwhile, the construction of the new road connecting the Port City and Colombo Port to the International Airport at Katunayake airport has commenced. A portion of the road will be built underground and it will be connected to the Port Access Elevated Highway linking to the Airport Expressway.

The Port Access Road will connect to the New Kelani Bridge at Ingurukade intersection and from there to the Colombo Port City will be constructed on pillars. From the Port city, the expressway will connect to the Marine Drive through an underground tunnel without interrupting the beauty of the Galle Face.

Since the new Kelani Bridge will directly connect to the Colombo-Katunayake Expressway on the north side, and extend to Orugodawatta intersection on the south side, connecting with Port Access road will allow the possibility to travel to outskirts of Colombo without any congestion.

It is expected to complete the construction of the Port Access Elevated Highway in three years.


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