China Merchants to invest in Sri Lankan Ports
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- Published on Thursday, 03 May 2012 11:45
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China Merchants Holdings International which is building a deep-water container terminal in Colombo port has expressed interest in investing in other Sri Lankan ports as well.
The Managing Director of the Company Hu Jianhua has said that they were attracted to Sri Lanka because of its "strategic advantages" like location, access to south Asia, open economy and literate labour force.
China Merchants is investing 500 million US dollars to build and operate a container terminal that will have a capacity of 2.4 million TEUs. Hu Jianhua has told the Southern Asia Ports, Logistics and Shipping 2012 conference in Colombo that his company intends to use its investment to modernize the port and improve its competitiveness. He has said that Sri Lanka's advantages and attractive location on the main East-West shipping route convinced them to invest in Colombo and in future other ports of Sri Lanka as well.
Hu has further said that Sri Lanka's advantages make it a strong contender to be developed as a modern port with the right investment and support of an international port operator, and investment by a major port operator would help improve Colombo port's competitive position (niz).
