China will invest $1 billion in the construction of three 60-storey buildings at a mega-project near Sri Lanka’s main port, 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.
The countries hope the project, initiated by former Sri Lankan president Mahinda Rajapakse, will create a financial centre in the Indian Ocean comparable with those in Singapore and Europe, drawing billions in foreign investment and thousands of jobs.
Sri Lankan officials said 60 percent of the 269 hectare (672 acre) reclamation, due to finish next year complete with yacht marina, had already been completed.
No completion date was given for the buildings, the first for the development.
Sources : news24
‘Schneiderman Called Me His “Br
State Attorney General Eric Schneiderman called his Sri Lankan gi
Tour Guides Association And Police
The Tour Guides Association of Sri Lanka yesterday conducted rand
Government Medical Officers Associa
The Government Medical Officers Association (GMOA) today announce
CID To Probe Theft At Dr. Lester Ja
The Criminal Investigations Division (CID) is to be entrusted wit
Met. Department Warns Of High Heat
The Meteorological Department has issued a ‘Heat Weather Ad