(MENAFN) Sri Lanka is to open a huge port, The Colombo International Container Terminal (CICT), in the middle of the east-west sea route, Gulf News reported.
The USD500 million port, which is the first in the country that can handle mega ships, is built and 85 percent owned by the China Merchant Holdings International, a state-run Chinese company.
Masakorala, a former secretary-general of the Asian Shippers Council in Singapore said: "Terminal investments are a good business which can give a very good return."
China seems to be following a pattern as it built a USD450 million deep-sea port in Sri Lanka early 2012. Also, the country built a USD14 million dry port in Nepal and struck a deal to acquire the Gwadar port in Pakistan early this year.
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