Wednesday, 17 May 2023 09:49

Port City Colombo begins construction stage attracting over US$ 14 billion Featured

Port City Colombo (PCC), the ground-breaking infrastructure project aimed at reshaping Sri Lanka's economic landscape, celebrated a momentous milestone as its infrastructure development phase nears completion and commercialization is set to begin.

The occasion was marked by a moment of unity with a multi-religious ceremony, invoking blessings on the nation and the project's success.

The Sales Gallery of Port City Colombo was adorned with a commemorative plaque, symbolizing the project's progress and transformative impact, with the theme, “Bridging Boundaries, Limitless Possibilities”

Looking ahead, the next phase of the Colombo Port City, the Construction Stage, is about to commence and is expected to attract over US4 14 billion of investment.

This phase will result in approximately $ 4.1 billion in locally sourced labour and materials, generating over 450,000 employment opportunities, of which over 400,000 will be for Sri Lankans.

The estimated contribution to GDP from the Construction Stage alone is projected to reach USD 24 billion.

Once fully operational, Port City Colombo, as the country's single largest development and foreign direct investment to date, is poised to contribute $ 13.8 billion annually to Sri Lanka's GDP, offering over 140,000 direct employment opportunities.

 

 

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