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Port City Colombo (PCC), the sprawling 269-hectare area of reclaimed land, is set to begin its construction phase, which is poised to attract investments worth US$ 14 billion, with its infrastructure development phase nearing completion.

“This phase will result in approximately US$ 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 US$ 24 billion,” a press release issued by PCC said.

A ceremonial event was held recently to mark this occasion with the unveiling of a plaque. The event was attended by Speaker of the Parliament, Ministers and Members of Parliament, Governor of the Central Bank of Sri Lanka, Members of the Monetary Board, Secretary to the Ministry of Investment Promotions, Ambassadors and representatives from foreign missions in Sri Lanka.