Colombo Harbor, Sri Lanka

Port operator China Merchants Holdings (International) has become the biggest shareholder of the Colombo South Container Terminal in Sri Lanka after signing an agreement to take a 55 per cent stake yesterday,

At an expected investment of more than US$500 million, the deal would be the single largest foreign investment by a private company in Sri Lanka, China Merchants said.

China Merchants chairman Fu Yuning and the president of Sri Lanka, Mahinda Rajapaksa, were at the signing ceremony in Shenzhen yesterday, on the eve of the opening of the 26th World University Games. More…