Chengdu businesses eye steel plant in Sri Lanka’s Hambantota

ECONOMYNEXT – A business delegation from the south-western Chinese city of Chengdu has shown interest in setting up a steel plant in Sri Lanka’s southern Hambantota, the investment promotion agency said.

The purpose of the visit by the delegation from Chengdu Association for Foreign Trade and Cooperation (CAFTEC) was to promote Sri Lanka and particularly projects in Hambantota, the Board of Investment said in a statement.

Chen Xia, Secretary General of CAFTEC said Chengdu has emerged as a centre for Chinese advanced manufacturing industry, clean energy and modern service industry including AI, big data, and 5G technology. 

“Our organization has had a close connection with Sri Lanka for about 11 years.”

Colombo and Chengdu have had direct air connection for many years, Chen said.

The delegation expressed interest in setting up a steel project in Hambantota, the BOI said.

Also, the Chengdu Business Council was the first Chinese Chamber to open an office in Colombo and it plans to set up seven more regional offices in other South Asian countries.
(COLOMBO, March 25, 2019-SB)

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