Report
Chinese state-owned firm withdraws from $392 million Sri Lankan port joint venture
Dawn reports Sri Lanka Ports Authority says China Merchants Port Holdings won't participate, but the logistics hub project will continue.
TLDR
Dawn reports that a Chinese state-owned firm has withdrawn from a $392 million joint venture to develop a logistics hub at Sri Lanka’s main seaport, citing the key local partner. Sri Lanka Ports Authority says China Merchants Port Holdings decided not to proceed with the collaboration announced in 2023, but the project will continue.
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