China Merchants eyes greater stake at Colombo port

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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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