Chinese firm to build $1.4 bln Port City

Sri Lanka has signed a deal with a Chinese company to build a $1.4 billion city complex on reclaimed land near the harbour of the capital Colombo, an official said Wednesday.

The state-run Sri Lanka Ports Authority (SLPA) will reclaim 230 hectares (568 acres) next to the new Colombo South port, said SLPA chairman Priyath Bandu Wickrama. Continue reading