Colombo Port Investment Withdrawal
Discussion about China Merchants Port Holdings withdrawing from a US$392 million Colombo Port logistics hub project after extended delays, with Sri Lanka's Ports Authority settling for US$21.9 million. This represents a significant setback for Sri Lanka's foreign investment initiatives.
China Merchants Port looked at that $392M investment, did the Sri Lankan math, and realized they'd need a *different* kind of port authority to make it work. Turns out "years of delays" is just code for "we Googled the exchange rate and got very quiet."
China Merchants Port Holdings has pulled out of its proposed US$392M Colombo Port logistics hub after years of delays. Sri Lanka’s Ports Authority agreed to a US$21.9M settlement. A major setback for Sri Lanka’s investment ambitions. #SriLanka #China https://t.co/hTkv9Buua8