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The construction work on the expansion of southern expressway linking Matara and Hambantota, country’s first E-class highway (E01), began in 2015. It aimed to promote the efficient transport system by linking Colombo with other parts of country. The 96 km expressway consists of 4 sections with each section financed by the Exim bank with different […]

Colombo International Container Terminals (CICT), initially known as China International Container Terminal by Chinese side, is a joint venture of China Merchants Port Holdings Company (CMPHC) and Sri Lanka Ports Authority (SLPA). CICT, commenced in 2013-14, comes under the Colombo South Harbour expansion plan (2011). It is noted that 85% of the partnership is held […]

During Chinese President Xi Jinping’s visit to Colombo in September 2014, the Sri Lanka Ports Authority (SLPA) and China Harbor Engineering Company (CHEC), a subsidiary of China Communications Construction Company (CCC), signed an investment agreement for Colombo Port City development. The project entailed building a modern city on land reclaimed from the sea with the […]

It is pertinent to note that the debt problems in Sri Lanka are not completely linked to Chinese investments as debt issues in the country existed before its relationship with China. Nevertheless, China, to some extent, is responsible for creating a critical economic situation in Sri Lanka and other BRI countries. The 99-years long lease […]