1
COLOMBO: Sri Lanka will finally sign a $1.1 billion deal on Saturday to lease the southern Hambantota port to China, after several months of delay caused by local protests and claims by opposing politicians that this would threaten national security.
Located near the main shipping route from Asia to Europe and likely to play a key role in China’s “Belt and Road” initiative, the Hambantota port has been mired in controversy since state-run China Merchants Port Holdings, that built it for $1.5 billion, signed an agreement taking an 80 per cent stake.
Published in Dawn, July 29th, 2017
Read more
On DawnNews
Comments (1) Closed
Jul 29, 2017 08:54pm
The Hambantota port is very strategic for China to further it's interests in the Gulf as it provides the appropriate bunkering point for its navy between it's Gwadar port and home ports in China. China is restructuring its military to grow the naval and marine forces to further it's international interests.
Gwadar and the CPEC road/rail link will enable China to quickly acquire mid-eastern oil fields in Kuwait, Qatar, UAE and Saudi Arabia and ship the oil home through the secure land route rather than the highly vulnerable sea route across the Indian ocean.
Kudos to President Xi for his great strategic vision ....
Recommend
0
