• About us
  • Contact us
Tuesday, June 23, 2026
No 1 epaper in Sri Lanka
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPERPDF
  • සිංහලSINHALA
No Result
View All Result
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPERPDF
  • සිංහලSINHALA
No Result
View All Result
Mawratanews.lk | Sri Lanka Latest Sinhala News and Headlines
No Result
View All Result
Home News

Port City Colombo Enters US$15B Growth Phase with Major Infrastructure Expansion

April 19, 2026
in News
Reading Time: 9 mins read
A A
Port City Colombo Enters US$15B Growth Phase with Major Infrastructure Expansion
Share on FacebookShare on Twitter

The Port City Colombo has entered a new era of US$15 billion high-velocity growth, transitioning from its primary engineering phase—the reclamation of 269 hectares of land—to vertical development and commercial operations.

This transition is marked by the commencement of major infrastructure projects and the activation of commercial spaces that are now ready for immediate occupancy.

The CHEC Port City Colombo (Pvt) Ltd has recently secured US$300 million to advance Phase II, which focuses on core infrastructure and utilities, an official of the Finance Ministry told the Sunday Times Business. The funds will be used for the development of over 100 hectares of land, streetscapes, and recreational areas. This capital is also being directed toward the commissioning of electricity, water, and sewerage systems connected to the main city grid.

The project has already secured over US$1 billion in land development investments, with a projected US$15 billion pipeline. It is also expected to contribute approximately US$13 billion annually to Sri Lanka’s GDP as vertical development continues to scale.

As of early 2026, the project has attracted nearly US$900 million in investments over a four-month period from November 2025 to March 2026, the official said, adding that transactions within the zone are now authorized in 16 designated foreign currencies, enhancing capital mobility.

New legislative revisions have streamlined the approval process for Businesses of Strategic Importance (BSI), introducing minimum investment thresholds and clearer tax exemptions.

The Port City Economic Commission has also implemented a “Green Channel” mechanism, enabling business licenses to be issued within seven days and facilitating visa approvals within five days for international professionals.

At present, nearly 200 companies are registered within the Special Economic Zone (SEZ), up from 146 at the beginning of the year.

The continued long-term investment by CHEC Port City Colombo (Pvt) Ltd reflects its commitment to the full completion of the project and represents a sustained contribution to Sri Lanka’s economic future. It is expected to strengthen foreign direct investment (FDI) inflows, support employment generation, and encourage broader economic spillovers, while positioning Port City Colombo as a strategic hub for globally oriented, high-value services aligned with national development objectives.

Share52Tweet33Send
Previous Post

Sri Lanka Removes Telecom Tower Tax to Boost Rural Connectivity and Expand Digital Infrastructure

Next Post

Sri Lanka PM Hosts Indian Vice President, Calls for Deeper Bilateral Bonds

MORE NEWS

Harsha de Silva Questions Government Over Failure to Reduce Fuel Prices Amid Global Oil Price Drop
News

Harsha de Silva Questions Government Over Failure to Reduce Fuel Prices Amid Global Oil Price Drop

June 23, 2026
Parliament Adjourned For 10 Minutes After Heated Clash Over Urgent Debate Request
News

Parliament Adjourned For 10 Minutes After Heated Clash Over Urgent Debate Request

June 23, 2026
Sri Lanka Records 2,376 Child Abuse and Protection Complaints in First Three Months of 2026
News

Sri Lanka Records 2,376 Child Abuse and Protection Complaints in First Three Months of 2026

June 23, 2026
US Assistant Secretary Dr. Paul Kapoor Meets President AKD; Talks Focus on Trade, Bilateral Ties and Regional Peace
News

US Assistant Secretary Dr. Paul Kapoor Meets President AKD; Talks Focus on Trade, Bilateral Ties and Regional Peace

June 23, 2026
Starmer Resigns as UK Prime Minister; Burnham Emerges as Clear Successor
News

Starmer Resigns as UK Prime Minister; Burnham Emerges as Clear Successor

June 22, 2026
President Has Not Appeared in Parliament After $2.5M Treasury Disappearance – Mujibur Rahman
News

President Has Not Appeared in Parliament After $2.5M Treasury Disappearance – Mujibur Rahman

June 22, 2026
Load More

One of the best Sri Lanka Latest News Website and Sinhala language newspaper with Sunday editions, published by Free Media Independent Networks Pvt Ltd.

  • About us
  • Contact us

Copyright © 2019–2025 Free Media Independent Networks Pvt Ltd. All Rights Reserved. Developed by Turn Global.

No Result
View All Result
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPER
  • සිංහල

Copyright © 2019–2025 Free Media Independent Networks Pvt Ltd. All Rights Reserved. Developed by Turn Global.