650 acres of land reclaimed for China-backed port city in Colombo

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Over 650 acres of land off Colombo’s seafront, where a China-backed $1.4 billion port city is currently being built, has been reclaimed, according to Sri Lankan authorities.
Beijing attaches great importance to the port city, termed “another milestone” in the mega project. The total investment is expected to go up to $15 billion when the project is completed.
Executed by CHEC Port City Colombo (Pvt) Ltd, the port city, according to government estimates, is likely to draw about $15 billion in investment, when completed.
CHEC is a subsidiary of China Communication Construction Company, in which the Chinese government is a major stakeholder.
Colombo Port City Project is an important project of the ‘One Belt, One Road’ initiative in Sri-Lanka, which is one of the key countries along the maritime silk route.
The plan for mega port city — adjoining Colombo’s iconic sea front called the Galle Face — envisages plush offices, residential units, education and hospital facilities and a “central park”, to make it a “financial hub” linking markets and investors across Asia.
The Sri Lankan government has pledged its support to China’s ambitious OBOR initiative, with the hope of promoting the island as a trading hub in the Indian Ocean region.
Some local organisations earlier protested against the project coming up, citing environmental hazards, including illegal sand mining, and a potential threat to livelihoods of fisherfolk.

One Belt One Road (OBOR)

The Belt and Road Initiative(BRI), also known as the One Belt One Road (OBOR) or the Silk Road Economic Belt and the 21st-century Maritime Silk is a development strategy adopted by the Chinese government involving infrastructure development and investments in countries in Europe, Asia and Africa.
“Belt” refers to the overland routes for road and rail transportation, called “the Silk Road Economic Belt”; whereas “road” refers to the sea routes, or the 21st Century Maritime Silk Road. Until 2016, the initiative was officially known in English as the One Belt and One Road initiative but the official name was changed as the Chinese government considered the emphasis on the word “one” prone to misinterpretation.
The Chinese government calls the initiative “a bid to enhance regional connectivity and embrace a brighter future”.Some observers see it as a push for Chinese dominance in global affairs with a China-centered trading network.

One Belt One Road Countries List

The One Belt One Road covers a lot of countries and regions in the world.
Starting country:China
Other countries: Mongolia, Russia
8 countries in South Asia: Pakistan, Bangladesh, Sri Lanka, Afghan, Nepal, Maldives, Bhutan
11 countries in southeast Asia:Mongolia, Russia, Indonesia, Thailand, Malaysia, Vietnam, Singapore, Philippines, Myanmar, Cambodia, Laos, Brunei, east Timor
5 Central Asia countries: Kazakhsta, Uzbekistan, Turkmenistan, Kyrghyzstan, Tajikista
16 countries of west Asia and north Africa: Saudi Arabia, UAE, Oman, Iran, Turkey, Israel, Egypt, Kuwait, Iraq, Katar, Jordan, Lebanon, Bahrain, Yemen, Syria, Palestine
16 central and eastern European countries: Poland, Rumania, Czech Republic, Slovakia, Bulgaria, Hungary, Latvia, Lithuania, Slovenia, Estonia, Croatia, Albania, Serbia, Macedonia, Bosnia and Herzegovina.
The other six states of the CIS: Ukraine, Azerbaijan, Armenia, Belarus, Georgia, Moldova