China Merchants Port Abandons $392 Million Logistics Hub at Colombo Port
COLOMBO, Sri Lanka, Oct. 18 — China Merchants Port Holdings, the Chinese state-controlled port operator, has abandoned its plan to build a $392 million (about Rs. 130 billion) logistics complex in the Port of Colombo. The project had been billed as the largest of its kind in South Asia and had stalled for more than three years. In a filing to the Hong Kong Stock Exchange on Oct. 15, the company said the parties had agreed not to proceed. It and its partners signed a settlement ending the shareh
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