Sri Lanka reneges on port development deal with Japan, India

Politics Economy

Sri Lanka indicated Tuesday that it will develop a port in Colombo on its own, despite earlier signing an agreement with Japan and India about three-way cooperation for the project. The course reversal by the government of Prime Minister Mahinda Rajapaksa comes after the government in September canceled a railway project Japan was supposed to help with a yen-denominated loan. An official of the Japanese Embassy in Colombo called the decision "unilateral" and "regrettable," adding that it has conveyed such a message to the Sri Lanka government. Japan and India had hoped to advance the project, ...

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