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China's About To Launch Construction Of A New $1.4 Billion Port City

Raphael

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China's To Construct $1.4 Billion Port City - Business Insider

Colombo (AFP) - President Xi Jinping was Tuesday due in Sri Lanka where he will launch construction of a Chinese-backed $1.4 billion port city as he promotes his vision of a "maritime silk road" in the face of growing competition from Japan and India.

China is increasingly asserting its influence in the Indian Ocean, with Sri Lanka a midway point on one of the world's busiest international shipping lanes.

It has overtaken India to become the largest investor in Sri Lanka, and has also consistently supported Colombo in its efforts to resist a UN investigation into alleged war crimes. India, by contrast, has pushed Sri Lanka to ensure accountability.

Xi, the first Chinese head of state to visit Sri Lanka in 28 years, said no country should be allowed to intervene in the affairs of the small island nation, which has historically come under the influence of regional power India.

"China... resolutely opposes any move by any country to interfere in Sri Lanka's internal affairs under any excuse," Xi said in a letter published on the front-page of Sri Lanka's state-run Daily News.

"China and Sri Lanka need to turn our wishes into a driving force and enhance exchanges and cooperation between us in maritime, business, infrastructure, defence, tourism and other areas to accelerate the renewal of the maritime silk road for the benefit of our two countries and peoples."

Xi's call came amid repeated Sri Lankan assurances that relations were based on commercial rather than security considerations.

The Chinese president arrives from the neighbouring Maldives, where he secured support for his "21st century maritime silk road", an initiative that seeks to secure trade routes, largely through economic diplomacy.

During his visit, Xi will launch construction of a new $1.4 billion port city being built with funding from Beijing.

The new development will go up next to a $500 million Chinese-owned container terminal, the only mega port in South Asia.

But China faces competition for influence in the region from both India and Japan, which relies on the same maritime trade routes.

Japanese Prime Minister Shinzo Abe travelled to Sri Lanka earlier this month, securing an agreement that the two countries would forge stronger maritime links.

India's new Prime Minister Narendra Modi, meanwhile, has embarked on a regional charm offensive since taking office in May to restore relationships critics say the previous government neglected.

- 'Nothing to fear' -
Xi said he was keen to experience the charm of Sri Lanka, calling it the "splendid pearl of the Indian Ocean."

China has been accused of developing ports around India in a "string of pearls" circle of influence to counter New Delhi.

But Sri Lanka's economic development minister Basil Rajapakse said ahead of the visit his country's close ties with China should not be a cause for concern in New Delhi.

"We are looking for trade, investment and tourism," Rajapakse told AFP. "India is also looking to China so I do not see anything wrong in our having close ties with them."

The ambitious port city project being developed by Sri Lanka Ports Authority (SLPA) with Chinese backing will include a luxury marina and a Formula One race track.

SLPA chief Priyath Bandu Wickrama said the port would be "based on commercial interests".

"We will not allow our ports for any military purposes," he told AFP. "There is nothing for anyone to fear."

Beijing has already financed the construction of Sri Lanka's second international airport and another deep sea port in the southern district of Hambantota, the home constituency of President Mahinda Rajapakse.

During his visit, Xi is expected to commission the third phase of a 900-megawatt coal power plant China has built in the island's north-western cost.

But a military aircraft maintenance facility Sri Lanka sought to establish with Chinese help has been in limbo since India privately objected to its chosen venue, the eastern port district of Trincomalee.

Trincomalee is a natural deep sea harbour which allied forces used as a staging post during World war II and is still considered strategically important.
 
Thank you China :china:
525dc3f00d0e6d4975e47f1e44b031f3.jpg
 
It supposed to be "CONTROVERSIAL" port!


It has overtaken India to become the largest investor in Sri Lanka, and has also consistently supported Colombo in its efforts to resist a UN investigation into alleged war crimes. India, by contrast, has pushed Sri Lanka to ensure accountability.

Resist UN investigation.

EVIL Sri Lanka! Evil country make friend to another evil country like China.


Only US, Japan and Taiwan are the good countries.
 
Lets wait to the plan come true in near future. Please trust the construction power of China.
I`d like to know the details of this port of Sri Lanka s plan if possible.
I think if this plan do good to Sri Lanka s economy and people's living conditions then its a good project. Outside noise is nothing.
 
It supposed to be "CONTROVERSIAL" port!




Resist UN investigation.

EVIL Sri Lanka! Evil country make friend to another evil country like China.


Only US, Japan and Taiwan are the good countries.
How much do you hate Taiwan?
 
Lets wait to the plan come true in near future. Please trust the construction power of China.
I`d like to know the details of this port of Sri Lanka s plan if possible.
I think if this plan do good to Sri Lanka s economy and people's living conditions then its a good project. Outside noise is nothing.

Not sure about the details of the port city's plan at this stage.

However, China's construction power has already been proven. When China signs a deal, we know it is virtually guaranteed to be started and often completed ahead of time (in contrast to another regional country).

Here is another China project in Sri Lanka that is going full steam ahead:

LOTUS TOWER
Chinese to build 350-meter communications tower

The Lotus Tower will be a landmark tower from where people could have an overview of Colombo city. The lotus-shaped tower is primarily built to house radio, television, and telephony serving greater Colombo area and will be equipped with restaurants and observation facilities for local and foreign travelers

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66976cf58bfc4376e44d33c7cee461a3.jpg


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871e9e3733d48805d99f84a24638aa1a.jpg
 
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Not sure about the details of the port city's plan at this stage.

However, China's construction power has already been proven. When China signs a deal, we know it is virtually guaranteed to be started and often completed ahead of time (in contrast to another regional country).

Here is another China project in Sri Lanka that is going full steam ahead:

LOTUS TOWER
Chinese to build 350-meter communications tower

The Lotus Tower will be a landmark tower from where people could have an overview of Colombo city. The lotus-shaped tower is primarily built to house radio, television, and telephony serving greater Colombo area and will be equipped with restaurants and observation facilities for local and foreign travelers

View attachment 66693

View attachment 66694

View attachment 66700

View attachment 66671

View attachment 66692
Amazing. Its good to see Chinese companies have investment in Sri Lanka.
About the port city, try to buy some assets in/near the city related to trade before our countrymen come. :D
Make more money, friend.
 
Four Years Later, A Journalist Revisited China's Most Famous Ghost City - Here's The Depressing Way It Has Changed

MAMTA BADKAR0JUN 9, 2014, 10.46 PM

Rob Schmitz/Marketplace/American Public Media

An empty street in front of an vacant residential complex in the city of Kangbashi, Ordos.

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China's ghost cities aren't going away. Even as Beijing wants local governments to move away from GDP targeting and is more focused on developing social housing, wasteful construction still plagues China.

A report from CLSA's Nicole Wong,cited by the WSJ, found that the problem lies in the excess supply in China's third-tier cities. Vacancy rates for homes constructed in the past five years currently stand at 15%, but are projected to rise over 20% around 2016-2017, according to Wong.

Rob Schmitz, China correspondent for Marketplace/American Public Media recently ran a piece titled "China's economic boom leaves a trail of ghost cities." We reached out to Schmitz to get an update on Kangbashi and Yujiapu.

Schmitz points out that one of they key differences between visiting Ordos now, and back in October 2010 was people's attitudes. Back in 2010, residents of Kangbashi (new city of Ordos) were defensive when the place was dubbed a ghost city, but now many had come to accept it.

Schmitz said that many people had abandoned these ghost cities and moved back home. He also points out what China bulls like Stephen Roach have got wrong, when they argue that these cities tie into China's urbanization plan.

PHH.jpg
 

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