Sri Lankan Government suspends China port city project in Colombo [ Current Affairs ]
Sri Lankan Government Ranil Wickremasinghe temporarily suspends China port city project in Colombo. Reason behind of this decision was taken Interim Report submitted by a cabinet sub-committee.
- Sri Lankan Government had agreed to invest through China for the single large project of Colombo Port City and the project was started in September 2014, by Chinese President Xi Jinping.
- Colombo Port City project will play an important role in its ambitious Maritime Silk Road Project and signed by President of Sri Lanka (Mahinda Rajapaksa) with China to reclaim 233 hectares of land from the sea to build a port city on a 99-year lease.
- According to the project, Chinese company was to develop commercial and entertainment hub which include shopping malls, water sports, golf, hotels, apartments and marinas.
- Published on: March 12, 2015