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Sri Lanka’s opposition protests port lease with China ties
HAMBANTOTA, Sri Lanka – Hundreds of opposition supporters and farmers have protested the Sri Lankan government’s plan to lease a southern seaport to a Chinese-controlled joint venture in exchange for the heavy loans to build the port.
The protesters led by Marxist party People’s Liberation Front said Thursday the proposed partnership is akin to a sellout of the country.
The government wants to lease the loss-making port to a joint venture company in which China will have 80 per cent ownership. The lease period will be 99 years.
China invested over $1.2 billion in the Hambantota port in what some analysts call its “string of pearls” strategy in countries surrounding India.
Sri Lanka’s government criticized the project before being elected in 2015 but later approached China seeking help to make it viable.
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