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Colombo Port City secures first investment with one billion dollar CIFC project

17 December 2020 10:12 pm - 5     - {{hitsCtrl.values.hits}}

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The first investment within the Colombo Port City will commence with the one billion dollar Colombo International Finance Centre (CIFC) Mixed Development Project, the Prime Minister’s Office said.

“The momentous agreement between Browns Investments, the strategic investment arm of the LOLC Group, and China Harbour Engineering Company Limited (CHEC) was signed this morning in the presence of Prime Minister Mahinda Rajapaksa and Ambassador of China to Sri Lanka Qi Zhenhong, a statement issued by the Prime Minister’s Office said.

“Attracting foreign direct investment is a key priority for our Government, and this landmark project is a strong indicator that Sri Lanka is now back in business,” Prime Minister Mahinda Rajapaksa said. 

“We invite investors from around the world to explore the multitude of investment opportunities that Sri Lanka presents with its strategic location and human resource capabilities,” he said.

“At this crucial moment, China once again demonstrates its confidence in Sri Lanka and commitment to help Sri Lanka's economic and social development,” said Ambassador Zhenhong.

 “It’s well believed that the International Financial Centre Project will not only effectively boost the vigorous growth of Sri Lanka's finance and other industries, but also create more high-quality job opportunities, benefiting the general public and society.”

"The project comprises a total land area of 6.8 hectares, implemented under two phases. The first phase of the CIFC Mixed Development Project, with an investment of US$ 450 million and comprising a land area of 3.06 hectares, will consist of the incorporation of a Special Purpose Vehicle (SPV) company, jointly managed by Browns Investment and CHEC. 

The overall project, which will be implemented in a sustainable and socially-responsible manner, expects to create significant quality employment opportunities across a variety of sectors," the statement said.


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  • Expat Thursday, 17 December 2020 11:21 PM

    We know what's going to happen. China will take over at the end. SL will never ever get investments from abroad until the ethnic problem is solved. No point fooling the public and rest of the world. Come clean

    Econ-mutt Friday, 18 December 2020 08:38 AM

    First of all, get the $ 1 b.

    Jay Friday, 18 December 2020 08:52 AM

    Rajapakushas will take 25% and China owns Sri Lanka. Sri Lanka needs to stop racial divisions and instead choose prosperity and peace for the future generations.

    Michael Ranasinghe Friday, 18 December 2020 09:32 AM

    Agreements are signed every week .. and going by these media shows Sri Lanka will surpass Singapore within the next few years .. this regime is brilliant in their communication to lure the masses including the so called educated elite to a false sense of euphoria and satisfaction ..they did it in 2009 and they are repeating the same today

    Man Friday, 18 December 2020 02:32 PM

    There is no ethnic problem in Sri Lanka. If any, the affected people can file a fundamental right case. But no one has filed. It's the truth.


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