Sri Lanka’s cabinet ‘clears port deal’ with China firm after concerns addressed

July 26, 2017

Sri Lanka’s cabinet cleared a revised agreement for its Chinese-built southern port of Hambantota, the government said, after terms of the first pact sparked widespread public anger in the island nation. The port, close to the world’s busiest shipping lanes, has been mired in controversy ever since state-run China Merchants Port Holdings, which built it for $1.5 billion, signed an agreement taking an 80 percent stake.

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