Tamil Information Centre
User Name:   
Password:   
  Remember Me  
Sign up  |  Forget password
Home   
Search
    Contact us
China Clears $1 Billion Road In Sri Lanka, Countering India Influence
Published Date: 15/05/2018 (Tuesday)

China has emerged as the largest single lender to Sri Lanka in recent years, securing contracts to build roads, railways and ports under the former government of Mahinda Rajapakse.

China has approved a $1 billion loan to revive a long-delayed expressway in central Sri Lanka, the island's government said Monday.

Construction of the first phase of the road linking the capital Colombo with the hill resort of Kandy had been delayed for more than two years due to a lack of foreign funding, according to local media reports.

Prime Minister Ranil Wickremesinghe's office said he met the Chinese ambassador on Monday, who told him Beijing had decided to approve the loan that will be provided through the Export-Import Bank of China.

China has emerged as the largest single lender to Sri Lanka in recent years, securing contracts to build roads, railways and ports under the former government of Mahinda Rajapakse.

After Wickremesinghe came to power in January 2015, many projects were suspended pending investigations into corruption allegations, but construction work has recently restarted following renegotiations.

Last August, China took over a loss-making deep-sea port in the island's south on a 99-year lease under a $1.1 billion deal.

 

Ads by ZINC

Colombo is a key hub for Indian cargo, and Beijing has been accused of seeking to develop facilities around the Indian Ocean to counter the rise of its rival and secure its own economic interests.

Under Sri Lanka's former regime, China began a controversial $1.4 billion land reclamation project next to Colombo's harbour.

There are plans to build a new city centre on the land, with Chinese firms set to invest another billion to construct three 60-storey buildings.

The project was formally launched after a visit to Colombo by Chinese President Xi Jinping in 2014 but work was suspended by the new administration.

Source: NDTV

 

Share on Facebook


 Latest 25 News/ பிந்திய 25 செய்திகள்:
Sri Lanka Searching for Mum, Series 1 Episode 1 of 2
Published Date: 15/05/2018 (Thursday)
Japan shifts focus of its development assistance to Indo-Pacific
Published Date: 15/05/2018 (Wednesday)
No need for military aid from US when there is no war – Nalaka Thero
Published Date: 15/05/2018 (Wednesday)
Celebrated war hero now sells fish
Published Date: 15/05/2018 (Wednesday)
Keith Noyahr Incident: Mahinda summoned by the CID
Published Date: 15/05/2018 (Wednesday)
HALO expects to free Jaffna from mines by late 2019
Published Date: 15/05/2018 (Wednesday)
‘Navy Sampath’ remanded until August 29
Published Date: 15/05/2018 (Wednesday)
Sri Lanka navy chief funded mass-murder suspect: CID
Published Date: 15/05/2018 (Wednesday)
Family resettlement and peacebuilding in Sri Lanka boosted by £1 million
Published Date: 15/05/2018 (Wednesday)
JNU Student Leader Umar Khalid Shot at in Delhi, Unhurt; Shooter Escapes
Published Date: 15/05/2018 (Wednesday)
Police arrest 17 members of sword gangs in North
Published Date: 15/05/2018 (Tuesday)
US Foreign Military Financing for Lanka
Published Date: 15/05/2018 (Tuesday)
Statement of the ASSOCIATION CULTURELLE DES TAMOULS EN FRANCE at the 38th regular session of the Human Rights Council ; General Debate under agenda item 8
Published Date: 15/05/2018 (Monday)
MMDA: Who is blocking reform of this discriminatory law?
Published Date: 15/05/2018 (Sunday)
Is Ethnic Cleansing Coming to India?
Published Date: 15/05/2018 (Friday)
Sri Lanka has positive attitude on conserving Dutch heritage sites
Published Date: 15/05/2018 (Friday)
Army Embarks on Cultivation of More Than 135,000 Herbal Plants in All SFHQs
Published Date: 15/05/2018 (Friday)
Speaker says no provisions to change Opposition Leader
Published Date: 15/05/2018 (Friday)
NPC member Raviharan arrested
Published Date: 15/05/2018 (Friday)
"Most Brutal": Can't Free Rajiv Gandhi's Killers, Centre Tells Top Court
Published Date: 15/05/2018 (Friday)
Inquiries on Vijayakala’s statement concluded - OCPD informs court
Published Date: 15/05/2018 (Friday)
5 new ways to protest in Sri Lanka
Published Date: 15/05/2018 (Friday)
Sri Lanka Deputy Minister wants school children caned
Published Date: 15/05/2018 (Friday)
Deep Impact: Emmerson’s Report Reveals Lasting Legacy of PTA
Published Date: 15/05/2018 (Friday)
Former Chilean President Bachelet put forward by UN chief as next High Commissioner for Human Rights
Published Date: 15/05/2018 (Friday)
Donate
Support our work to bring rights to life in any way big or small
 Amount:

Donate using PayPal

Select dates to view
past and future events
<<<Aug - 2018>>>
SunMonTueWedThuFriSat
   1
2
34
56789
10
11
1213
14
15161718
192021222324
25
262728293031 
 Stand up for Rights and Justice
Trump’s child hostages
Read more...
Take Action
Set Noura Free -- sign now!
Tamil men accuse continuing torture in Sri Lanka Take a stand against torture and urge UN Human Rights commission for human rights to investigate
Urgent: They’re beheading children
Latest Publication
Armament for Repression: Militarisation of Sri Lanka Conference Report:

Armament for Repression: Militarisation of Sri Lanka

Read more...

Thiruvalluvar
About us
Site Help
Getting in touch
Other
Facebook Youtube twitter
Sitemap  |  Privacy Policy  |  Terms and Conditions
Copyright © 2018 ticonline.org, All rights reserved.