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CHEC to invest US $1.2bn in Colombo Port City

By: Isuru Parakrama

Colombo (LNW): The China Harbour Engineering Company (CHEC) will invest US $1.2 billion in the Colombo Port City, starting with the International Financial Centre, confirmed CHEC President Bai Yinzhan, during a meeting with Sri Lankan Foreign Minister Mohammed Ali Sabry held at their Head Office in Beijing today (26).

The CHEC Port City Colombo (Pvt.) Ltd. is run through the China Harbour Engineering Company (CHEC) and is part of China Communications Construction Company Limited (CCCC).

The Sri Lankan Foreign Minister is currently in China to attend the World Economic Forum, which is being held in Tianjin from June 27 to June 29.

Sabry also met with the Chairman of the Export-Import Bank of China (EXIM) in Beijing today, and discussed the way forward with Sri Lanka’s ongoing debt restructuring programme.

The Sri Lankan Foreign Minister said he was assured that China will support the island nation’s economic recovery and growth.

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