2020-12-18 07:35:34 GMT2020-12-18 15:35:34(Beijing Time) Xinhua English
COLOMBO, Dec. 18 (Xinhua) Prominent conglomerates from Sri Lanka and China on Thursday signed a landmark agreement to commence the first large scale investment in the multi-billion-dollar port city project in capital Colombo which will strengthen Sri Lanka s economy and its development sector in the international market.
The agreement was signed between Browns Investments PLC, the Strategic Investment Arm of the LOLC Group which is one of the largest and most diversified conglomerates in Sri Lanka and China Harbour Engineering Company Limited (CHEC), in the presence of Prime Minister Mahinda Rajapaksa and Ambassador of China to Sri Lanka Qi Zhenhong, to invest in the Colombo International Finance Centre (CIFC) Mixed-Use Development Project in the Colombo Port City, a statement said.
Sri Lankan, Chinese conglomerates join to invest international finance centre in Colombo Port City - Xinhua
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Browns and CHEC join forces for $ 450 m CIFC
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Port City Colombo secures LOLC’s and CHEC’s Investment; sets the stage for the One Billion Dollar “Colombo International Financial Centre”
December, 17, 2020
Browns Investments PLC, the strategic investment arm of the LOLC Group, has entered into a landmark Agreement to partner with China Harbour Engineering Company Limited to commence the Colombo International Finance Centre Mixed Development Project in the Port City Colombo. China and Sri Lanka have long established an enduring relationship characterised by economic cooperation and societal collaboration, so this partnership further underlines the confidence and commitment to development in the country through the combination of a world-renowned Sri Lankan conglomerate and a distinguished Chinese enterprise.