The government will call proposals to build a convention centre, hospital and an international school in the Colombo Port City.
The Cabinet office said the National Agency for Public-Private Partnership would facilitate the process.
The Cabinet of Ministers this week approved a proposal by Megapolis and Western Development Minister Champika Ranawaka to set up a negotiation committee and project committee for this purpose.
The mega US $ 1.4 billion-Colombo Port City project is co-developed by the Sri Lankan government and China’s CHEC Port City Colombo (Pvt.) Ltd, under the Belt and Road Initiative.
In total, 269 hectares of land from the ocean had been reclaimed, preparing the project for investments in the near future.
Under the agreement with Sri Lanka, CHEC Port City has given part of the land to the government of Sri Lanka to develop.