China to invest US$ 50 billion in the Hambantota port city.

[Skyline]

Chinese corporates that visited Sri Lanka for Expo 2012 has expressed keenness to invest US$ 50 billion in the Hambantota Trade City Project.

A Chinese trade delegation with the overall participation of 150 business groups that arrived in Colombo to take part in the Sri Lanka Expo 2012 revealed this to Minister of Industry and Commerce Rishad Bathiudeen. The delegation was led by Beijing-based Sino-Sri Lanka Rich Investment, led by its Chairperson Song Jien Hua.

Ceylon Today | China pushes for US$ 50 B investment

-----------

50 Billion ?

 

[conworldus]

the GDP of Sri Lanka is 59 billion.

 

[Fanling Monk]

I love that name Ceylon, it so poetic and romantic, it's been a while since I heard that name.

By anyway good luck to the project and the friendship.

 

[Skyline]

the GDP of Sri Lanka is 59 billion.

yeah, that's why I'm wondering...

 

[punjabimunda]

maybe over 25 yrs loll. its a good project

 

[Shabz Nist]

Wait till the lankan saps figure out the chinis are planning on importing labour and material for any infra development all the way from china.

 

[Skyline]

Wait till the lankan saps figure out the chinis are planning on importing labour and material for any infra development all the way from china.

all those projects are like that.

 

[Shabz Nist]

all those projects are like that.

You mean all "their" ....

 

[Bhairava]

That's freakin almost the entire Lankan GDP...

 

[Skyline]

You mean all "their" ....

yep. Mostly labour and material everything from China.

 

[Shabz Nist]

yep. Mostly labour and material everything from China.

Meaning, no trickle down effect to your industries or manufacturing sectors. the projects themselves will contribute nothing....considering, these investments are entirely self-serving.

 

[Skyline]

Meaning, no trickle down effect to your industries or manufacturing sectors. the projects themselves will contribute nothing....considering, these investments are entirely self-serving.

At last we will get a money marking port!

 

[Chinese-Dragon]

These investments are entirely self-serving.

This financial "investment"... is "self-serving"?

What has the world come to? When investments are suddenly about making profit?

/sarcasm

 

[Shabz Nist]

This financial "investment"... is "self-serving"?

What has the world come to? When investments are suddenly about making profit?

/sarcasm

No one expects any business to "Stop making profit". But it gets a tad bit ridiculous when "everything" is imported from china....including labor. labor unions in India would never let stuff like that happen......maybe, the same will happen in SL as well.....hopefully.

 

[sweetgrape]

50 BILLION!
Good, I hope china can hire more local labour to improve resident's life, Of course, The port itself will pull the sri lanka economy, China and Sri lanka will benefit from it!!