COLOMBO: Sri Lanka has signed a deal with a Chinese company to build a $1.4 billion city complex on reclaimed land near the harbor of the capital Colombo, an official said Wednesday.
The state-run Sri Lanka Ports Authority (SLPA) will reclaim 230 hectares (568 acres) next to the new Colombo South port, said SLPA Chairman Priyath Bandu Wickrama.
He said the SLPA finalized a deal under which China Communications Construction Company Limited (CCCC) will invest $1.43 billion to build a "Port City" that will change the coastline in the capital.
Chinese firm to build $1.4bn Sri Lanka city complex
Chinese firm to build $1.4bn Sri Lanka city complex
