Chinese investment zone
Sri Lanka Signs Agreement to Sell 80% Hambantota Port Stake to China
| Charissa Echavez | | Dec 08, 2016 11:20 PM EST |
Sri Lanka signed an agreement in principle on Thursday to sell at least 80 percent of its deep-water port on the country's southern coast, near the world's busiest sea lanes, to a Chinese state-backed firm, according to The Wall Street Journal citing senior officials.
Sri Lanka to Sell 80% Hambantota Port Stake to a Chinese Firm
| Charissa Echavez | | Nov 01, 2016 06:50 AM EDT |
Sri Lanka is set to sell an 80 percent stake of its Hambantota port in its south to a Chinese company, an attempt to cut its debt burden, Ravi Karunanayake, the country's finance minister, said.
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