Monday , 26 August 2019
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Tag Archives: Sri Lanka

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, ... Read More »

Sri Lankan opposition party want to scrap Colombo’s port city

The current Port of Colombo

Sri Lanka’ opposition party intend to scrap an impending $1.5bn port project, agreed between China Communications Construction (CCC) and the current government, if it wins the presidential election next month. Former prime minister and opposition leader, Ranil Wickremesinghe, denounced the plans to turn the nation’s capital, Colombo, into a port city, as a haphazard reclamation” of land with no regard ... Read More »

China pledges investment to create ‘maritime silk road’

Li Jianhong talks to Chinese and Sri Lankan dignitaries

China will make a multi-billion dollar investment in several port related projects in Sri Lanka, including a new US$601m container terminal in Hambantota Port and the US$1.4bn development of Colombo as a “Port City”. China Merchants Holdings (International) (CMHI) and China Harbour Engineering Company will fund part of the development of Hambantota Port; the new terminal will have four container ... Read More »