(MENAFN) South Korea intends to sign an initial deal with Sri Lanka on the development of the Sri Lankan capital of Colombo and adjacent areas.
Specifically, the deal calls for both nations to primarily unite in projects to develop a science and technology based city in Malabe on the outskirts of Colombo.
Basically, the move is part of Sri Lanka's major projects worth USD63.2 billion to develop a total of nine new zones in Colombo and its adjacent areas by 2030.
Additionally, Sri Lankan officials also prepare to hold a crucial meeting with South Korean builders on the country's development projects later in the day.
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