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HomeNewsChina’s CHEC confirms USD 1.2 bn investment in Colombo Port City

China’s CHEC confirms USD 1.2 bn investment in Colombo Port City

Sri Lanka’s Foreign Minister Ali Sabry has held a meeting with the President of the China Harbour Engineering Company (CHEC) Bai Yinzhan at their head office in Beijing on Monday (26). 

President Bai confirmed that CHEC will invest USD 1.2 billion in the Colombo Port City, starting with the International Financial Centre, the Sri Lankan foreign minister said in a tweet.

The CHEC Port City Colombo (Pvt) Ltd through the state-run China Harbour Engineering Company (CHEC) is part of China Communications Construction Company Limited (CCCC). 

Meanwhile Foreign Minister Ali Sabry has also met with the Chairman of the Export-Import Bank of China in Beijing on Monday.

The minister tweeted saying he had a constructive meeting with the Chairman of the EXIM Bank of China, Mr. Wu Fulin. 

“We discussed the way forward with Sri Lanka‘s ongoing debt restructuring process.” 

“I was assured China will support Sri Lanka’s economic recovery and growth,” he said.

Sabry, who is in China to participate in the World Economic Forum being held in Tianjin from 27 to 29 June, had also met with the Chinese State Councilor and Foreign Minister Qin Gang in Beijing on Sunday.

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