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Sri Lanka wants to reduce China's stake in strategic port deal

Sri Lanka wants to reduce China's stake in strategic port deal

Monday, March 27, 2017, 7:35 PM

Sri Lanka's government wants a Chinese company to agree to cut its stake in a strategic port project by up to a quarter, as part of a renegotiation aimed at blunting public and political opposition to the deal. After signing an agreement in December, state-run China Merchants Port Holdings had been expected to pay $1.12 billion for a 99-year lease on an 80% stake.
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