One of the most important concerns for India has been the increased Chinese involvement in Sri Lanka over the last 10 years. They have invested heavily in infrastructure and supplied huge amount of arsenal to Sri Lankas military; a Chinese submarine had even docked in Colombo recently. India is hoping that will change now. A drive around the island nations capital Colombo can give you the feeling of overarching presence of China. Facing the citys landmark Galle Face Green, along the coast, a new offshore port city is being built by a Chinese company that will change the skyline of Colombo. The company is investing $1.5 billion, the largest single foreign direct investment in Sri Lanka. China has invested six billion dollars including in the Colombo port city project, to reclaim 233 hectares of sea and convert it into land. Whats interesting is that a huge proportion of that is in the form of loan and not a grant.
Posted on: Mon, 19 Jan 2015 06:00:00 +0000
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