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Project Name: Colombo Port City Phase I Project -Sri Lanka

Host Country: Democratic Socialist Republic of Sri Lanka

Project Duration: September 2014 – August 2019

Project specification：

Sri Lanka, located in the Indian Ocean, is adjacent to the main international routes of Asia and Europe and close to the fast-growing Indian subcontinent, Southeast Asia, and the Middle East. Colombo, the capital of Sri Lanka, located on the southwest Bank of Ceylon island and close to the Indian Ocean, is known as the "crossroads of the East" and is the largest city and commercial center of Sri Lanka and the world-famous artificial seaport.

Colombo Port City Project, located in the CBD core area of Colombo, Sri Lanka, and as a vital project of pragmatic initiatives between China and Sri Lanka in the "Belt and Road Initiative". it is also rated as one of the "five new towns influencing the future" by Forbes magazine, with the land area of the project at 269 hectares, and the planned construction scale at 5.73 million m2, which will accommodate 250000 people to live and work.

The Colombo Port City Project Phase I, with an investment of 1.4 billion US dollars, has driven the secondary development investment of about 13 billion US dollars and has been the most spectacular development project in Sri Lanka's history.

The land area of the reclamation project in phase I is 269 hectares, consisting of land formation, water-break, south sand barrier, yacht revetment, artificial canal and landscape revetment, artificial lake discharge, artificial beach, foundation treatment, etc.

The construction of the reclamation project commenced on October 17th, 2014, and completed on August 28th, 2019. On November 15th, 2019, the CHEC and UDA full meaning of UDA? officially signed the lease agreement of the first batch of plots with the project company, completed the land ownership confirmation procedures of the Port City Project, and entered the land development stage.

Characteristics and Significance of the Project：

As Colombo is the capital of Sri Lanka and the economic and cultural center of the country, the Sri Lankan government aims to build Colombo into an international commercial and financial center (CIFC) in South Asia. Since the 1970s, the Sri Lankan government has planned to expand the scope of Colombo CBD through reclamation and put forward the concept of a "great western province" in 2004, aiming to promote national economic development and improve urban supporting infrastructure services and enhance national happiness. On September 17th, 2014, then President Rajapaksa of Sri Lanka put forward the "Mahinda vision": to achieve "Sri Lanka becomes a high-income developed country" by 2030.

Under this opportunity, the Colombo Port City Development Project has become a vital project of pragmatic initiatives between China and Slovakia under the "Belt and Road Initiative", and both sides signed the project investment agreement in November 2013. This was jointly developed by China Communications Construction Co., Ltd. (CCCC) and the Sri Lanka government and on September 16th, 2014, the CHEC signed a franchise agreement with the Sri Lankan government.