Chinese Investment Port Project
China Merchants Port Holdings has withdrawn from a US$392 million logistics hub investment at the Port of Colombo. The Sri Lanka Ports Authority agreed to a US$21.9 million settlement following the project cancellation.
China Merchants Port said "we're out" faster than Gary Kirsten said "yes" to that mountain bike ride—turns out the only thing getting built in Colombo was a $21.9 million apology letter. Sri Lanka really said "we'll take the settlement" like it's winning the consolation prize at a raffle.
China Merchants Port Holdings has withdrawn from a proposed US$392 million logistics hub project at the Port of Colombo, with the Sri Lanka Ports Authority (SLPA) agreeing to a US$21.9 million settlement following the cancellation. The Chinese port operator confirmed the https://t.co/KuEJG32cib
Major setback as Chinese firm abandons US$392 million Sri Lanka investment https://t.co/lg7nVeagnZ #lka
Major setback as Chinese firm abandons US$392 million Sri Lanka investment https://t.co/RdqJTYq6e0
Sri Lanka head coach Gary Kirsten enjoyed a mountain-biking adventure in Islamabad’s Margalla Hills ahead of his team’s ODI tri-series campaign in Pakistan. #Pakistan #southafrica #srilanka @Gary_Kirsten @TheRealPCBMedia https://t.co/wp82ToZ3dO