Sri Lanka announced that it is entering into partnership with India and Japan to develop a deep-sea container terminal next to a controversial $500-million Chinese-run container jetty in Colombo harbour.<\/p>\n\n\n\n
\u201cThe MOC demonstrates Sri Lanka\u2019s ability to maintain and further it\u2019s national interests while cooperating with international partners,\u201d the SLPA said in a statement.<\/p>\n\n\n\n
China owns 85 percent of the adjoining terminal known as the Colombo International Container Terminal which was commissioned in 2013. The SLPA owns the remaining 15 percent of the company.<\/p>\n\n\n\n
The state-run Sri Lanka Ports Authority said a memorandum of cooperation had been signed between the three countries to develop what is known as the East Terminal of the Colombo port.<\/p>\n\n\n\n
The SLPA said it will retain 51 percent of the company that will run the terminal while the rest will be owned by India and Japan. It gave no further details of the costs of the project.<\/p>\n\n\n\n
In December 2017, Sri Lanka, unable to repay a huge Chinese loan, handed over another deep sea port in the south of the island to a Beijing company in a deal that raised concerns at home and abroad.<\/p>\n\n\n\n
The $1.12 billion deal first announced in July 2016 allowed a Chinese state company to take over the Hambantota port, which straddles the world\u2019s busiest east-west shipping route, on a 99-year lease.<\/p>\n\n\n\n
India and the United States are both concerned that a Chinese foothold at Hambantota, 240 kilometres south of Colombo, could give it a military naval advantage in the Indian Ocean.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sri Lanka announced that it is entering into partnership with India and Japan to develop a deep-sea container terminal next to a controversial $500-million Chinese-run container jetty in Colombo harbour. \u201cThe MOC demonstrates Sri Lanka\u2019s ability to maintain and further it\u2019s national interests while cooperating with international partners,\u201d the SLPA said in a statement. China […]<\/p>\n","protected":false},"author":1,"featured_media":62408,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-62407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/62407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=62407"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/62407\/revisions"}],"predecessor-version":[{"id":62409,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/62407\/revisions\/62409"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/62408"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=62407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=62407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=62407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}