China-funded Colombo Port City good example of public-private partnership: Sri Lankan minister

COLOMBO -- A Sri Lankan state minister said that the China-funded Colombo Port City project is a good example of a public-private partnership (PPP) which benefits the country, local state-owned newspaper Daily News reported here on Oct 6.

Nalaka Godahewa, state minister of urban development, coast conservation, waste disposal and community cleanliness, was quoted by Daily News as saying that "The Colombo International Financial City or the more commonly known Port City development is a very good example of PPP project."

"In this project, the government did not have to spend on capital but attracted private investments to the tune of 15 billion U.S. dollars," Godahewa said.

Speaking at the inauguration of the Build Sri Lanka Housing and Construction Exhibition organized by the Chamber of Construction Industry, Godahewa said that the government was seeking PPPs to fund vital infrastructure development.

Godahewa said that the government is working to combat the economic effects of the COVID-19 pandemic and investment in construction projects would be key to overcoming a recession.