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
Marikkar Slams President: Says The
UNP Parliamentarian S.M. Marikkar yesterday described President M
Largest haul of seized cocaine dest
Demonstrates Govt’s commitment to creating drug free societ
Sri Lankan map to be revised
The Department of Survey General has taken steps to revise the ge
Russian Federation wants bigger tra
The Russian Federation has vowed for bigger trade with Sri Lanka,
17-year-old detainee commits suicid
A 17-year-old detainee has committed suicide at the Pettah Police
UN child rights committee in Geneva
The UN Committee on the Rights of the Child is meeting in Geneva