The state-owned China Construction Communication Company (CCCC) is losing over $380,000 per day, according to a statement from the company, after the Sri Lankan government suspended construction around the Port City project in Colombo.
According to the company, the suspension has harmed efforts to protect land reclaimed due to the suspension, which is in place whilst the Sri Lankan government decides on the fate of the project. Over 200 metres of breakwater which has been constructed so far has been damaged, said CCCC.
"As a result of this suspension, CCCC estimates an initial direct loss for the company of over 380,000 U.S. dollars per day. Furthermore, the interest on the financial loan obtained by the company for the development of the project is being paid, regardless of the ongoing suspension," the company added in a statement.
Also see our earlier posts:
China unhappy at Port City suspension order (08 March 2015)
Sri Lanka threatens legal action against China over ‘Port City Project’ (05 March 2015)