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China Merchant Holdings kicks off largest FDI deal in Sri Lanka

(Xinhua)

18:34, December 16, 2011

COLOMBO, Dec. 16 (Xinhua) -- Sri Lanka witnessed the largest foreign direct investment project in the country of 500 million U. S. dollars on Friday, a minister said.

A consortium consisting of China Merchants Holdings International Company and local conglomerate Aitken Spence was awarded the tender for the construction and operation of the Colombo South Harbor Expansion Project.

The deal, which is valued at 500 million U.S. dollars, includes building a container terminal that will considerably enhance the capacity of Sri Lanka's main port.

The ground breaking ceremony for this terminal was flagged off by Sri Lankan President Mahinda Rajapaksa in the midst of many Chinese and local dignitaries including Chinese Ambassador to Sri Lanka Yang Xiu Ping.

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