China pulls out of port project in Sri Lanka

🌐 Hellenic Shipping News (LK) —

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China Merchants Port Holdings has withdrawn from a planned $392 million joint venture to develop a logistics hub at Sri Lanka’s main seaport. The Sri Lanka Ports Authority said the collaboration, announced in 2023, will not proceed as planned.

A Chinese state-owned firm has withdrawn from a $392 million joint venture to develop a major logistics hub at Sri Lanka’s main seaport, the key local partner said on Monday. The Sri Lanka Ports Authority (SLPA) said China Merchants Port Holdings had decided not to proceed with the collaboration announced in 2023, but the project ...

World Politics Markets Deals Shipping China Merchants Port Holdings Sri Lanka port development logistics hub joint venture project withdrawal investment

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