Chinese company to build Sri Lankan Port Terminal

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• The Sri Lankan Cabinet has decided to award the construction of the second phase of the Colombo Port’s East Container Terminal (ECT) to the Chinese company China Harbour Engineering Company (CHEC) .
• In 2019 an agreement was signed by Sri Lanka, India and Japan  to develop the same terminal. It was to be developed by the Adani group of India.
• The deal signed by the former Sirisena-Wickremesinghe was cancelled by the incumbent Rajapakse government.
• It said that Port worker unions were against the deal and the Adani group was not willing to accept the terms and condition of the agreement as set up by the  Sri Lankan government. 
•  Later Sri Lanka offered the West Container Terminal development project at the same port to the Adani Group as compensation.

Capital of Sri Lanka :  Sri Jayewardenepura

Currency of Sri Lanka : Sri Lankan Rupee