China Merchant Port Holding Company (CMPH), which already has a dominant presence in Sri Lankan harbors, will be setting up a warehousing hub in Colombo port.
Colombo: The Sri Lankan government has given the sole and exclusive rights to the Chinese state enterprise China Merchants Port Holdings Company for a logistics centre in the Port of Colombo for 50 years, media reports said.
By the end of 2021, Sri Lanka owed China US$ 7.4 billion, which accounted for 19.6% of its debt. And because China holds a large share of Sri Lankan debt, the “Chinese debt trap” narrative is back in the spotlight
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