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China Merchants Port Holdings exits $392 million Sri Lanka logistics project

The Chinese state enterprise pulled out of the Colombo port commercial hub venture.

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  1. 0:01China Merchants Port Holdings has withdrawn
  2. 0:04from a three hundred ninety-two million
  3. 0:06dollar port venture in Sri Lanka
  4. 0:09The state-owned enterprise was set to
  5. 0:11build the South Asia Commercial and
  6. 0:12Logistics Hub at Colombo port
  7. 0:16It was touted as the first
  8. 0:17major foreign investment entering Sri Lanka
  9. 0:19after its debt default
  10. 0:22The project had raised China Merchants
  11. 0:24Group's cumulative investment in the country
  12. 0:26to two billion dollars
  13. 0:29For the full story visit wenepal.com
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