Sri Lanka cabinet approves revised port deal with China: spokesman

Reuters News
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Posted: Jul 25, 2017 3:29 AM

COLOMBO (Reuters) - Sri Lanka's cabinet approved a revised port deal with China Merchant Port Holdings on Tuesday, cabinet spokesman Dayasiri Jayasekera told Reuters, after terms of the first agreement sparked widespread public anger.

"The cabinet approved the deal and now it needs parliament approval. We will send it for parliamentary approval this week," Jayasekera said.

He said the Chinese firm would get an overall 70 percent stake in the port deal, less than the earlier agreed 80 percent.

(Reporting by Ranga Sirilal and Shihar Aneez)