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Sri Lanka says Chinese firm drops claim over Colombo Port City's delay

Reuters  |  COLOMBO 

COLOMBO (Reuters) - China Communication Construction Company (CCCC) has dropped its claim against the Sri Lankan government for $143 million in compensation for delaying the $1.4 billion Colombo Port City development, in return for getting additional land for the project, the government said on Tuesday. The news completes a U-turn on the Port City project on Colombo's new waterfront by President Maithripala Sirisena's administration, which had suspended the project in March last year because of concerns over the award of the contract to the Chinese construction giant by the previous ...

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First Published: Tue, August 02 2016. 18:13 IST