AsiaPorts and Logistics
China Merchants eyes greater stake at Colombo port
Shanghai: China Merchants Holdings, the port investment subsidiary of China Merchants Group, is in discussions with the eSri Lanka Ports Authority (SLPA) over investment in the East Container Terminal which is currently under construction.
China Merchants Holdings is looking to take over 49% equity shares in the container terminal, while SLPA will hold the remaining 51%.
China Merchants is preparing to expand its investment in overseas ports in a response to the recently released ‘One Belt, One Road’ initiatives from Beijing which vows to enhance trade connectivity in the Eurasia region.
China Merchants now holds 85% of Colombo South Harbour, which is the largest project operated by a foreign company in Sri Lanka.