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Chinese-built port to open in Colombo tomorrow

A Chinese mega-port built in Colombo will be opened tomorrow.

The Colombo International Container Terminal cost $500mn to build and is 85% owned by state-owned China Merchant Holdings International.

Independent shipping expert, Rohan Masakorala, said the port gives China a foothold on a strategic route, according to AFP.

"Terminal investments are a good business which can give a very good return," said Masakorala, a former secretary-general of the Singapore-based Asian Shippers Council.

"Through this investment, China is also securing the safety and efficiency of their main supply chain."

"For China to maintain economic growth at home, they also need to go out and secure their supply routes. In that sense, coming to Colombo is a strategic commercial investment."

China to build $1.4bn port complex in Sri Lanka - 25 Jul 2013

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