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Sri Lanka and China decide new road map to anchor ties

  • Sri Lanka and China, in order to revive the stalled multi-billion dollar projects, are set to define a new blueprint for the same which is going to be based on rapid infrastructure development. In a series of planned investments, Beijing has confirmed that it is with Sri Lanka on its construction of the Colombo port city worth $1.4 billion. The only condition laid by the Chinese authorities is declaration of the technical details before resuming the construction. Construction of an industrial park at Sri Lanka’s Hambantota Port has also been prioritized by authorities of both the countries. A preferential buyer credit loan has been sanctioned by china to Sri Lanka for the construction of an extension of the Southern highway which runs from Colombo to Matara on the southern coast of Sri Lanka.