Port City Downsizes

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Posted June 18, 2015

The China Harbour Engineering Company Ltd. (CHEC) Colombo Port City last week claimed that it had downsized its staff and were in the process of paying loans obtained from international finance companies due to the halting of the project.

However, the CHEC Port City, a subsidiary of China Communications Construction Company (CCCC) did not divulge the details of how much losses they had faced or the number of staff that had to be relieved due to the project’s suspension.

The project had been suspended on the orders of the new government since March 5. Accordingly, as of Saturday (13) it had been 100 days since project activities were halted.