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China pushes for US$ 50 B investment in H’tota Trade City

Chinese corporates that visited Sri Lanka for Expo 2012 has expressed keenness to invest a staggering Rs 6.5 trillion or US$ 50 billion in the Hambantota Trade City Project

Ceylontoday, 2012-04-02 13:40:00
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China pushes for US$ 50 B investment in H’tota Trade City

Chinese corporates that visited Sri Lanka for Expo 2012 has expressed keenness to invest a staggering Rs 6.5 trillion or US$ 50 billion in the Hambantota Trade City Project. 

A Chinese trade delegation with the overall participation of 150 business group that arrived in Colombo to take part in the Sri Lanka Expo 2012 revealed this to Minister of Industry and Commerce Rishad Bathiudeen. The delegation was led by Beijing-based Sino-Sri Lanka Rich Investment, led by Ms Song Jien Hua, its Chairperson.

“We are now hoping to invest US$ 50 B in Hambantota Trade City Project, hoping to establish an international port that can compete with the Singapore port in 10 to 15 years time from now and can bolster up Sri Lanka’s ambition to be the hub of shipping in south Asia. We want to invest US$ 50 billion in this project” revealed Ms Song Jianhua.  

“We had a good experience during this visit to Sri Lanka and believe the country has investment promise. We are committed to creating jobs and promote economic growth in Sri Lanka with financial strength,” she added.

Responding to the delegation, Minister Bathiudeen said: “The Expo 2012 and also the conducive business and investment environment you see today in Sri Lanka is a result of the development vision of President Mahinda Rajapaksa. Last year we recorded 8.3% GDP growth, and the safety of foreign investments in Sri Lanka is guaranteed by the constitution.  These are some of the reasons why Expo 2012 became a success. Under the directive of President Mahinda Rajapaksa we are now planning to host this international series once every two years. As a result, our next ‘Sri Lanka Expo’ is now being primed to be held in early 2014. We are ready to extend any form support as you may require when you come to invest with us” Minister Bathiudeen assured. (Ceylon Today Online)

 

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