Wednesday, July 13, 2011

Sri Lanka plans to outshine Singapore with Chinese aid...

Sri Lanka aims to create an Asian shipping hub capable of competing against Singapore and Dubai by pouring $3.4 billion into expanding ports with Chinese help, after the island’s container volumes surged to a record.

President Mahinda Rajapaksa’s goal of capitalizing on the end of a 26-year civil war to build a trade gateway to emerging markets makes shares in John Keells Holdings Plc (JKH) and Aitken Spence & Co. Plc a buy, says NDB Aviva Wealth Management Ltd. Port revenue may almost triple to 72 billion rupees ($658 million) in 2015 from 2010, Standard Chartered Plc estimates.

“Sri Lanka can transform its economy by boosting its ports infrastructure,” said Samantha Amerasinghe, a Colombo-based economist at Standard Chartered. “Peace provides an opportunity to take advantage of a historic shift that will put the island at the center of the biggest trade routes of the future.” More...

Don't miss:
  1. Sri Lanka's killing fields (Graphic)
  2. China and India in blossoming love affair with Sri Lanka...
  3. China's role in the Sri Lankan war...
  4. Sri Lankan Tamils angry with China, India...
  5. India moans as China honeymoons in South Asia...
  6. US, China and the war in Sri Lanka... 

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