Sri Lanka finalises $1.12 bn port deal with China

[oprih]

Another bitch-slap in the face of our indian brothers. Expect india to send doval to sri lanka for another pointless media stunt that will receive much praise ftom common indians who are all dumb.

 

[onebyone]

Sri Lanka signs Hambantota port deal with China
Billion-dollar agreement reached despite trade union opposition and protests over security fears, including from India.

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• Sri Lanka has signed a $1.12bn agreement with a state-run Chinese firm to operate a port in the southeast of the country, despite security concerns and protests from trade unions.
  
  According to the long-delayed deal reached in the capital Colombo on Saturday, Sri Lanka Ports Authority agreed to sell a 70 percent stake in the Hambantota port to China Merchants Ports Holdings.
  
  The Chinese firm will run the workings of the newly constructed port over a 99-year lease.
  
  The Cabinet approved the agreement on Tuesday, almost six months after the framework deal was signed.
  
  Public anger and protests had delayed the signing.
  
  READ MORE: Protest over Hambantota port deal turns violent
  
  Demonstrators rallied against the loss of land and concerns that the port could be used by the Chinese military.
  
  Trade unions earlier in the week staged a strike against the deal, temporarily crippling fuel distribution on the island.
  
  They fear the deal gives an advantage to China in the bunkering business, which provides fuel to ships, as the port is located on a key international shipping lane between Europe and Asia.
  
  Chinese President Xi Jinping launched the "One Belt, One Road" project in May, pledging tens of billions of dollars to build ports, highways and power grids in about 60 different countries, linking China to much of Asia, Europe and Africa.
  
  WATCH: China's mission to reinvent the Silk Road (25:19)
  
  Al Jazeera's Minelle Fernandez, reporting from Colombo, said the Hambantota port located in a strategic position.
  
  "For China to be able to get its foot in, and essentially take over this port, is considered quite an important part of its plan particularly with the new Silk Road initiative," she said.
  
  WATCH: Protests in Sri Lanka over China port deal (2:02)
  Sri Lanka's government has dismissed the unions' concerns, saying that the agreement would prove profitable and will help repay loans taken on to build the port.
  
  India voices concern
  The government argues that the port has been underused since its opening in 2010. The construction cost more than $361m, with the Export-Import Bank of China providing a large chunk of financing.
  
  Ports Minister Mahinda Samarasinghe told journalists that Sri Lanka "cannot afford to continue to pay" back the loans without better returns at the port.
  
  Only 44 ships have been handled by the Hambantota port since 2015, making it an unprofitable venture, DPA news agency reported.
  
  Neighbouring India has also voiced concerns that China could use the deep sea port in the Indian Ocean to dock military vessels.
  
  Sri Lanka has assured India that there are no security issues over the port, which it says will only be used for commercial purposes.
  
  "No naval ship, including Chinese vessels, can call over at the Hambantota Port without our permission," Samarasinghe said.
  
  Al Jazeera's Fernandez said: "The Sri Lankan government has sought to allay fears from both its neighbours and the people in the region that this is a commercial agreement which will help Sri Lanka on its road back to recovery from debt servicing."
  
  INSIDE STORY: Are concerns about China's growing presence in Sri Lanka valid? (25:00)
  
  
  Source: Al Jazeera and news agencies
  
  
  http://www.aljazeera.com/news/2017/...mbantota-port-deal-china-170729073859204.html

 

[graphican]

Good job China. Expand your due footprint in this region and give it stability against intruders. Look at Afghanistan and look at what Americans have done to their country and Nation. Sri Lankans will be thankful that a stable and mindful like China has arrived to stabilise them.

 

[Rollno21]

All three party's happy with the deal.
India,China and Srilanka .
India for the port can be used only for commercial purposes and not for military.
China for getting to run the port for commercial use.and Srilanka for getting the money.

 

[Godman]

@Gibbs @supun1

 

[HeinzG]

All three party's happy with the deal.
India,China and Srilanka .
India for the port can be used only for commercial purposes and not for military.
China for getting to run the port for commercial use.and Srilanka for getting the money.

So what if China betray the agreement? You still play dumb?

 

[supun1]

So what if China betray the agreement? You still play dumb?

The average IQ in this forum is not very high.

 

[Rollno21]

So what if China betray the agreement? You still play dumb?

That will give Srilanka to kick China out and keep the money too not sticking to the argreement .
India has no problem China doing a project for commercial purposes,they do projects in India too .we have problems when it's used for military purpose .

 

[supun1]

That will give Srilanka to kick China out and keep the money too not sticking to the argreement .
India has no problem China doing a project for commercial purposes,they do projects in India too .we have problems when it's used for military purpose .

What do you define as military purpose?

 

[Godman]

All three party's happy with the deal.
India,China and Srilanka .
India for the port can be used only for commercial purposes and not for military.
China for getting to run the port for commercial use.and Srilanka for getting the money.

I doubt Indian govt is "happy". China is not expanding militarily but economic influence is spreading from South Asia to Africa. Safe trade routes are important for a trade empire like China. You don't need military bases to spread your geopolitical influence

 

[Rollno21]

What do you define as military purpose?

Even as small as a Chinese navy using the port to dock it's ship or submarine.

 

[supun1]

Even as small as a Chinese navy using the port to dock it's ship or submarine.

That's permitted, military assets can call for logistics support as long as they are not engaged in an ongoing conflict.

 

[Godman]

Even as small as a Chinese navy using the port to dock it's ship or submarine.

The agreement does not ban that

 

[Rollno21]

I doubt Indian govt is "happy". China is not expanding militarily but economic influence is spreading from South Asia to Africa. Safe trade routes are important for a trade empire like China. You don't need military bases to spread your geopolitical influence

Why would India be not happy if China invests in Srilanka for commercial purposes.china invests more money in India too so how can India stop China from investing in other countries .
As long as Srilanka dsnt do anything which will not risk the security of India ,we have not issues ,infact we will be happy if Srilanka makes money and not like the last case where it was not able to pay the money.

That's permitted, military assets can call for logistics support as long as they are not engaged in an ongoing conflict.

It's not as per the new agreements ,it was as per the old agreement

The agreement does not ban that

With out Srilanka permission even a small fishing boat of China cannt enter the port now.

 

[supun1]

Why would India be not happy if China invests in Srilanka for commercial purposes.china invests more money in India too so how can India stop China from investing in other countries .
As long as Srilanka dsnt do anything which will not risk the security of India ,we have not issues ,infact we will be happy if Srilanka makes money and not like the last case where it was not able to pay the money.


It's not as per the new agreements ,it was as per the old agreement

India's defence expenditure this year is US$ 53.5 billion, China's is $152 billion.

How can anything Sri lanka do risk india's security than what it already is?

First match the budget, then worry about the little strategic things. If your opponents defence budget is much larger no strategy would work.

With out Srilanka permission even a small fishing boat of China cannt enter the port now.

Same applies every person, and every other country, thing, or dog.