The Chinese company-lessee of Hambantota Port is refusing to release the final lease rent of US$585 million to the Sri Lankan Government unless a …
May 262018
Apr 232018
Apr 23, Colombo: China today rejected the rumors of ‘Chinese Militarization’ at the Hambantota Port of Sri Lanka as ‘baseless suspicion’. Ambassador of China to Colombo, Cheng Xueyuan, dispelled the rumors that China’s Belt and Road initiative aims to use Sri Lanka’s Chinese-built port in the Deep …
Jan 142018
Subsequent to the agreement signed between the Sri Lanka Ports Authority and China Merchant Port Holdings Co. Ltd., US $ 292.1 million had been credited to the US Dollar account of the Government of Sri Lanka maintained at the Central Bank of Sri Lanka…
Dec 262017
This account saw $292.1 Million being credited to it today, as announced by the Central Bank itself. Sri Lanka were due to receive this money, which are proceeds from China Merchant Port Holdings Co. Ltd on Account of Handing Over of Operations of Hamb…
Dec 092017
“The Hambantota Port will add to Sri Lanka’s concept of transforming into a hub in the Indian Ocean,” it quoted the Sri Lankan prime minister as saying. The objective of the Belt and Road Initiative is to build trade and infrastructure networks that connect Asia with Europe and Africa along the ancient Silk …
Apr 052017
China is in Sri Lanka to stay, and will continue to own the Hambantota port for years to come. In fact, ten years from now Beijing will still own 60 …