President holds talks with China Harbour parent on $ 1.5 b more investment

Tuesday, 24 October 2023 01:19 - - {{hitsCtrl.values.hits}}

President Ranil Wickremesinghe last week in Beijing held talks with China Communications Construction Comp-any (CCCC), one of the biggest investors in Sri Lanka and the parent of China Harbour Engineering Co Ltd. (CHEC), which is managing the Colombo Port City.

The meeting was on the sidelines of the President’s visit to China to attend the 10th anniversary forum of the Belt and Road Initiative (BR).

The meeting with CCCC Chairman Wang Tongzhou and the team was at the company’s headquarters. Wickremesinghe was accompanied by the high powered Lankan officials delegation. Sources said during the meeting a cooperation framework agreement was discussed with a commitment of a fresh $ 1.56 billion investment by CCCC. The funding includes the elevated highway section from Orugodawatte to the Colombo Port City and remaining land development at the latter.

CCCC, a leading transportation infrastructure construction specialist, is a Fortune 500 global company and is ranked at 60th. CCCC is the world’s largest port design and construction company, the world’s largest highway and bridge design and building company, the world’s largest dredging company, the world’s largest container crane manufacturing company and the world’s largest offshore oil drilling platform design company.

CCCG has established 280 overseas institutions in 123 countries and regions around the world, and have business in 157 countries and regions.