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Sri Lanka says unique financial, business hub to be set up in China-funded mega port city

Xinhua, December 2, 2015 Adjust font size:

Sri Lanka will have a "unique financial and business district" in capital Colombo when a sea reclamation project by a Chinese firm is resumed, Prime Minister Ranil Wickremesinghe said on Wednesday.

Speaking at a ceremony marking the 30 anniversary of the formal establishment of the Colombo Stock Exchange, Wickremesinghe said that hopefully if the Port City project gets underway, there will be some sort of landfill in the area that could have the makings of a special financial and business district which will be a unique one in South Asia.

Work on the 1.4 billion U.S. dollar China-funded Port City project by China Communications Construction Company Limited that began last September was suspended by the Maithripala Sirisena regime in March after concerns were raised over some aspects of the project.

However Sirisena's government is likely to restart the project early next year.

The government has said that it will include the project in its megapolis development plan in order to develop the capital Colombo.

The project is set to attract millions of dollars as investments upon its completion. Enditem