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Sri Lanka: A balancing act amid geopolitical developments
Daily News (via HT Media Ltd.)
President Gotabaya Rajapaksa announced on Wednesday that a long-delayed Indian and Japanese deep-sea terminal project would proceed. The approval came after reviewing “regional geopolitical concerns,” Rajapaksa’s office said, a reference to India’s suspicion of Chinese interests at the same port.
Colombo’s ties with New Delhi have been tested since the Rajapaksa government last year decided to review the estimated $500 million deal signed in May 2019 between India, Japan and the previous Sirisena government to develop Colombo’s East Container Terminal (ECT).
Awarded to India’s Adani Group and Japanese partners in a joint venture, the contract gives Sri Lanka a 51 percent stake and 49 percent to Indian and Japanese stakeholders. ....

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