China Merchants pulls out of $392m Colombo port logistics hub
Sri Lanka Ports Authority to seek new investor after agreement fails over concessions and IMF constraints
China Merchants Port Holdings has withdrawn from a $392 million logistics hub project at Colombo Port, with the Sri Lanka Ports Authority agreeing to pay $21.9 million to settle investments, citing irreconcilable differences over the concession agreement and objections from the International Monetary Fund.