Stalled Chinese project in Colombo to start again
Print Edition
WORK will resume on a stalled Chinese-backed port development in Colombo, Sri Lanka’s president said during his visit to China yesterday.
Sri Lanka had halted the US$1.4 billion port city project citing a lack of government approvals, straining ties with its biggest investor. China says the project is in line with local laws and cancellation would deter foreign investors.
China has poured millions of dollars into infrastructure in Sri Lanka since the end of a 26-year civil war in 2009.
President Maithripala Sirisena told Chinese President Xi Jinping that work would resume after problems were “sorted out,” a Chinese foreign ministry official told reporters.
“He stressed that what happened around the port city in Colombo is rather temporary, and he said the problem does not lie with the Chinese side,” said Liu Jianchao, assistant foreign affairs minister.
Sirisena welcomes more investment from China and promises a healthy investment climate, Liu said.
The port city was part of a deal reached between China and Sri Lanka under the former Sri Lankan government.
However, the new government, which took office in January, had decided to re-examine it.
Sirisena had vowed to reconsider deals between China and his predecessor Mahinda Rajapaksa, saying they were not transparent enough.
Xi urged Sri Lanka to protect the legitimate interests of Chinese companies.
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