China to invest $1 billion in large-scale construction in Sri Lanka

Almaty. January 4. Silkroadnews - China will invest $1 billion in a large-scale construction in Sri Lanka, The Times of India reported.
“China will invest $1 billion in the construction of three 60-storey buildings at a mega-project near Sri Lanka’s main port, as Beijing aims to boost its influence in the Indian Ocean. The deal follows an earlier Chinese investment of $1.4 billion to carry out reclamation work for the wider Colombo International Financial City development, strategically located next to Sri Lanka’s harbour, the only deep sea container port in the region,” the report said.
The countries hope the project initiated by the former president of Sri Lanka Mahinda Rajapakse will create a financial center in the Indian Ocean comparable to projects in Singapore and Europe, capable of attracting billions of foreign investment and creating thousands of jobs.
The authorities of Sri Lanka stated 60% of 269 hectares of land have already been reclaimed. The date of construction of buildings has not yet been determined, but it is already known that Chinese company China Harbor will provide $1 bn.