Image by : Dinuka Liyanawatte/ Reuters
Hambantota Port: The latest news is that Sri Lanka wants to reduce China’s stake in the Hambantota port deal. The debt-laden but strategically located port was built at an estimated cost of $1.5 billion amidst other commitments, including the development of a 15,000 acre industrial zone and an airport to rebuild the island nation's infrastructure after a quarter century of war. To thwart increasing opposition, Sri Lanka is hoping that the Chinese firm that holds 80 percent stake will agree to divesting up to 20 percent to a Sri Lankan firm after 10 years. A situation far removed from this scene of Sri Lankan traditional dancers performing at the launch of Hambantota port in 2010.