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Monday, 14 May 2018 - 18:28
China to fund 1st phase of Central Expressway
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Chinese Ambassador to Sri Lanka says that China will fund $ 1 billion for the phase I of the Central Expressway construction.
 
Cheng Xueyuan conveyed this to Prime Minister Ranil Wickremesinghe during a meeting in Colombo today (May 14).
 
He said that instructions have been given to Chinese EXIM bank to process the loan.
 
The ambassador requested the Sri Lankan side to expedite administrative and legal formalities.
 
The Prime Minister’s Office said that the Chinese ambassador also discussed Hambantota port project and Colombo Port City project.
 
With regard to Hambantota Port, Chinese ambassador had mentioned that they encourage investors to set up factories for producing high-end products.
 
The last tranche for the payment of Hambantota port is due on 9th of June.  
 
The Chinese ambassador had also requested the PM to expedite the negotiations for the signing of Chinese Free Trade Agreement.
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