$15 billion Colombo Port City Project continues to be questionable. The project is also likely to pose a major environmental threat. There is also a big question mark about the venture being promoted by Sri Lanka’s long-established friend – China.
In terms of urbanization targets of the 21st century, the CPCP is a vital enterprise. But after the Mattala Airport investment of $209 million, this $15 billion venture is not being regarded in the best interests of the Sri Lankan economy. The country has a per capita annual GDP of $4,000, whereas the collective investment in the public and private sectors in 2013 was only $19.6 billion. The CPCP is expected to cost 75% of the public and private sectors’ investment combined; a cost overrun is also anticipated, further endangering the economic situation.