String of Pearls: China to invest $1 billion in Sri Lankan mega project

Posted by

Source: Economic Times

China will invest $1 billion in the construction of three 60-storey buildings at a mega-project near Sri Lanka’s main port, Colombo said Tuesday, as Beijing aims to boost its influence in the Indian Ocean.

The deal follows an earlier Chinese investment of $1.4 billion to carry out reclamation work for the wider Colombo International Financial City development, strategically located next to Sri Lanka’s harbour, the only deep sea container port in the region.

Advertisements