Chinese company to invest $1.2 billion in the Colombo Port City

(LANKAPUVATH | COLOMBO) – The China Harbor Engineering Corporation (CHEC) has conveyed that it is ready to invest an amount of US$ 1.2 billion in the Colombo Port City adding enormous strength to the country’s economy.

Qiaoliang Tang, Chairman of China Harbor Engineering Corporation (CHEC), has assured a further $1.2 billion in fresh investments on numerous identified projects within the Port City when he met with the visiting Sri Lankan delegation led by Foreign Affairs Minister Ali Sabry.

The Sri Lankan delegation met with the CHEC Chairman and senior management on Monday at the CHEC headquarters in Beijing and reviewed the progress of their colossal investment in Sri Lanka, Minister Ali Sabry said.

Participating in the special discussion, CHEC President Bai Yinzhan said further strengthening the diplomatic cooperation between Sri Lanka and China, the relevant amount is ready to be invested in the Colombo Port City within this year.

Foreign Minister Ali Sabry attended the meeting with the CHEC executives while he is leading a delegation to participate in the World Economic Forum to be held in Tianjin, China from 27 to 29 June 2023.

The Sri Lankan delegation has also pointed out that this investment is very important for Sri Lanka in order to take the country’s economy to a good level and that more attention should be paid to foreign investments in order to make the economy stronger and earn more foreign exchange.

Meanwhile. Minister Ali Sabry also met with the Chairman of the EXIM Bank of China Mr. Wu Fulin Monday in Beijing.

The Minister said he had a constructive meeting with the Chairman of the EXIM Bank of China and they discussed the way forward with Sri Lanka’s ongoing debt restructuring process.

The Foreign Minister also said that Mr. Fulin, the chairman of the country’s Exim Bank, assured that China would support the recovery and growth of the Sri Lankan economy.

Sri Lanka’s Ambassador to China, Dr. Palitha Kohona, Director General of the Ministry of Foreign Affairs, Poshitha Perera, and Minister Ali Sabry’s private secretary Fayad Bakir accompanied the Minister for the discussions.


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