Sri Lanka is reconsidering the outright transfer of a parcel of land to China under a $1.5 billion port city deal signed by a previous government, the energy minister said, amid concerns it could be used for Chinese naval activity.
China Communications Construction Co Ltd
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Sri Lanka's cabinet said on Thursday it would allow a $1.5 billion "port city" deal with China to go ahead, dropping a threat to cancel a project approved by the previous government.
Sri Lanka's new government said on Thursday it might renegotiate a $1.5 billion "port city" deal with China Communications Construction Co Ltd (601800.SS), softening its pre-election threat to scrap the project.
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