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"China's Jewel in the Heart of the Indian Ocean" Topic


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18 Jun 2016 4:33 p.m. PST
by Editor in Chief Bill

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Tango0110 May 2016 10:25 p.m. PST

"The origin of the Colombo Port City project seems mythical. The story goes that while inspecting the land reclamation progress for the expansion of Colombo's port, then-president Mahinda Rajapaksa looked out over the newly accumulated sediment and had an epiphany: why not just keep reclaiming land down the coast to build a new city district? However, the reality may have been a little more pragmatic, as the site of the impending port city was silting up naturally to the south of the new container terminal anyway.

Construction on Colombo Port City initially began in March 2011, but due to various reasons it was put on hold. The project was then re-launched in September 2014 with a grandiose commencement ceremony that featured both Mahinda Rajapaksa and Chinese President Xi Jinping.

Although Colombo Port City was conceived by Sri Lanka and was at first developed by a local company, it is now an almost 100 percent Chinese undertaking. The financial backing for the project comes via foreign direct investment from China Harbor Engineering Corporation, a subsidy of the World Bank-blacklisted China Communications Construction, a Chinese state-owned enterprise. This is the largest single example of FDI in Sri Lanka ever. Whereas many of China's other investments in Sri Lanka come in the form of loans, China intends to directly reap the spoils from Colombo Port City. In the initial conception of the project, China and Sri Lanka would have equal rights to the port city, but due to concerns over sovereignty and appeals from India, this was eventually changed into a 99-year lease over a portion of the newly fabricated land…"
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Amicalement
Armand

Tricorne197110 May 2016 11:57 p.m. PST

So are the Chinese after Fernando's Painting Service? That means they will control wargame armies everywhere?

Tango0111 May 2016 10:22 a.m. PST

Tango0111 May 2016 10:24 a.m. PST

(smile).

Amicalement
Armand

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