China approves loan of US 1 billion for mega Central Expressway
Posted on May 14th, 2018

Courtesy NewsIn.Asia

Colombo, May 14 (newsin.asia) – China, on Monday approved a loan of US 1 billion dollars to construct the phase one of the Central Expressway in Sri Lanka, the Prime Minister’s office said in a statement here.

China’s Ambassador to Sri Lanka, Cheng Xueyuan met Prime Minister Ranil  Wickeremesinghe in capital Colombo and said instructions had been given to China’s EXIM Bank to process the loan.

The Ambassador requested the Sri Lankan side to expedite administrative and legal formalities.

China approves loan of US 1 billion for mega Central Expressway

During discussions, Ambassador Cheng and Prime Minister Wickremesinghe also discussed the Hambantota port project, in southern Sri Lanka and the Colombo Port City project.

With regard to Hambantota Port, the Chinese Ambassador mentioned that they encourage investors to set up factories for producing high end products. The Ambassador said once started the two projects will become the engine of growth for Sri Lanka,” the statement said.

The Chinese Ambassador also requested to expedite the negotiations for signing of the China, Sri Lanka free trade agreement and the progress of Chinese funded water projects were also discussed, the statement added.

5 Responses to “China approves loan of US 1 billion for mega Central Expressway”

  1. Dilrook Says:

    Very good move by the government.

    China-Sri Lanka Free Trade Agreement must be signed within this year. It has been delayed since 2008, deliberately delayed by Thirupathy worshippers.

    This also puts this government further in the US-India blacklist after it leased the Hambantota port to China. A US State Department report just identified Sri Lanka, Cambodia, Laos, Vanuatu, PNG, Malaysia, etc. as subjects of China’s “debtbook diplomacy”. EXIM Bank was cited in that report as a key culprit in extending China’s hegemon through debt.

    It is a very bold move by this government to reach out to China in this context and must be commended.

  2. SA Kumar Says:

    China approves loan of US 1 billion for mega Central Expressway- How much will go to Hon CB hora RW pocket ???

  3. Christie Says:

    If we can get Ranil and Mahinda to run the country it will best best kick in the face of India, Indian Empire and Indian Colonial Parasites.

    India Backed Mahinda over Ranil in 2005 and Mahinda did not suck to India.

    In 2015 India got Sirisena to kick Mahinda out.

    It is time Mahinda and Ranil get together.

  4. aloy Says:

    US $ 1.1 billion for a length of 37 km!. Not bad for a poor country like SL. Another couple of expressways, SL will have to be sold to China wholesale. This works out to $30 million for a KM. I understand that this is three times the world average. There is a dual carriageway bridge across the sea being built where I am. It is cheaper than this. Who are the professionals who recommended this tender and took the sin on their shoulder?. They will have to account for this one day. Majority of countrymen are unable to have three meals a day and those who have want to ride on expressways paved with gold.

  5. SA Kumar Says:

    aloy
    I understand that this is three times the world average.- Chines also charging same price(1/3) balance 2/3 go to Hora RW & his Singapore companien( you know what I mean).

    You Modayas won’t stop until OUR Sinhala Island ( Chignkala Theevu) sold out !!!

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