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Sri Lanka signs deal on Hambantota port with China
Sri Lanka signs deal on Hambantota port with China
Sri Lanka has signed a $1.1bn
(£837m) deal with China for the control and development of the southern
deep-sea port of Hambantota.
The deal had been delayed by several months over concerns that the port could be used by the Chinese military.
The
government has given assurances that China will run only commercial
operations from the port, on the main shipping route between Asia and
Europe.
Sri Lanka's government says money from the deal will help repay foreign loans.
Under
the proposal, a state-run Chinese company will have a 99-year lease on
the port and about 15,000 acres nearby for an industrial zone.
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