CHEC Port City Colombo (Pvt.) Ltd., the primary developer of Port City Colombo, has committed around $ 300 million in foreign direct investment to begin Phase II of the project, following the completion of required regulatory approvals.

The investment marks one of the first large FDI pledges of the year and strengthens confidence in Sri Lanka’s medium- to long-term economic outlook. The funds will support core infrastructure and utilities within Port City Colombo, which operates as the country’s first multi-services Special Economic Zone.

“This $ 300 million Phase II investment is a clear and deliberate statement of our long-term commitment to Sri Lanka. We are not approaching Port City Colombo as a short-term development, but as a generational project aligned with the country’s future growth,” said CHEC Port City Colombo (Pvt) Ltd Managing Director Xiong Hongfeng. “Our decision to continue infusing capital via FDI reflects strong confidence in Sri Lanka’s economic direction and in the role Port City Colombo will play in supporting investment, enterprise, and employment in the years ahead.”

The new funding is expected to accelerate development activity within the zone and enable future investor entry, while supporting employment across construction, services, and related sectors. The developer said the commitment reflects its intention to complete the project in full and contribute to broader economic spillovers linked to high-value services.