Chinese firm to build major Sri Lanka port complex


China Merchants Group’s investment in a large logistics complex at Colombo Port, with an estimated construction cost of US$392 million, is the first major foreign investment in Sri Lanka since its foreign debt default. – AFP pic, May 1, 2023.

A CHINESE state-owned firm said today it plans to take its investment in Sri Lanka to US$2 billion (RM9 billion) by building a major logistics hub.

Sri Lanka is looking to kick-start its economic recovery after defaulting on its foreign debt last year, when shortages of essentials such as food, fuel and medicines sparked widespread anti-government protests.


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