NEW DELHI: India on Thursday said it is keeping an eye on the China-backed Colombo Port City project in Sri Lanka that is being touted as a big ticket investment drawing scheme which would boost the island nation’s economy. The Opposition parties in Sri Lanka are against the bill which they say will lead to the creation of a Chinese colony in Sri Lanka. But at this point I think there are discussions within Sri Lanka, queries and questions, what are the implications of this for Sri Lanka itself," the person said. The $ 1.4-billion Colombo Port City project is expected to play a key role in China's ambitious 'Maritime Silk Road' project in India's backyard. China has built the port city on reclaimed sea, adjoining the Port of Colombo.

Source: Mint May 27, 2021 13:18 UTC