Unable to repay a huge Chinese loan, Sri Lanka handed over the deep sea port of Hambantota to a Beijing company in 2017.
The state-run Sri Lanka Ports Authority said a memorandum of cooperation had been signed between the three countries to develop what is known as the East Terminal of the Colombo port. “The MOC demonstrates Sri Lanka’s ability to maintain and further it’s national interests while cooperating with international partners,” the SLPA said in a statement.
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