Sri Lanka hopes to attract five billion dollars in foreign direct investments from the ports sector by 2014, which includes a project to build a formula one track on reclaimed land.

Sri Lanka is on an investment drive to develop its ports facilities, including the main commercial port in the capital of Colombo and a new facility in Hambantota, in the south.

A mega development project has been drawn-up around the Colombo port, where 500 acres will be developed from land reclaimed around the famed Galle Face green promenade into a golf course and a formula one race track.