Updated Mar 03, 2021 | 12:04 IST
The latest development comes just weeks after Colombo decided to reverse course on a 2019 agreement that would have seen India and Japan build the East Container Terminal at the Colombo Port. Sri Lankan President Gotabaya Rajapaksa. | Photo Credit: PTI
Key Highlights
According to the latest reports, the Indian High Commission in Colombo has “approved” the offer, yet no statement has been released from India s Ministry of External Affairs
Following Sri Lanka s difficulties in servicing Chinese debt, the government ceded ownership of the China-financed Hambantota Port Project with Colombo giving the port on lease to Beijing for a period of 99 years in December 2017
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