Chinese firm keen to invest $ 50 b in Sri Lanka’s port sector

A Chinese firm has expressed keenness to invest $ 50 billion in opportunities in the port sector of Sri Lanka, Ministry of Industry and Commerce said yesterday.

This disclosure had been made when a 13-member Chinese investment delegation made a courtesy call on Minister Rishad Bathuideen on Friday. The delegation was organised by Beijing based Sino-Sri Lanka Rich Investment, led by its Chairwoman Song Jien Hua.

The 13 member Chinese Business delegation arrived as part of the overall 150 Chinese business group that arrived in Colombo to take part in the Sri Lanka Expo 2012 organised by the Export Development Board under the Ministry of Industry and Commerce.

The delegation comprised of powerful, state of the art have state-of-art technology players in fertilizer, port development, energy, petro chemistry, cement, and machinery.

“We are now hoping to invest $ 50 billion in Hambanthota Trade City Project, hoping to establish an international port that can compete with the Singapore port in 10 to 15 years and can bolster up Sri Lanka’s ambition to be the hub of shipping in South Asia. We want to invest US $ 50 billion in this project,” Song Jian Hua had said according to the Ministry.

 “We had a good experience during this visit to Sri Lanka and believe the country has investment promise. We are committed to creating jobs and promote economic growth in Sri Lanka with financial strength,” she has added. Responding to the delegation Minister Bathuideen said: “We are ready to extend any form support as you may require when you come to invest with us.”