China seeks to strengthen ports and shipping influence in Colombo
China Merchants Holding (CHM), a subsidiary of China Merchants Group, is looking to invest in a new container terminal in Sri Lanka’s Port of Colombo.
CHM is expected to be limited to a 49% stake in East Container Terminal, owing to Sri Lanka’s new joint venture regulations while the Sri Lankan Ports Authority (SLPA) will own the remaining 51%.
Ports minister, Arjuna Ranatunga, said that CHM’s competent running of Colombo South Harbour, where it owns an 85% stake, will give it a good chance to win its latest bid.
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