China will invest $1 billion in the construction of three 60-storey buildings at a mega-project near Sri Lanka’s main port, Colombo as Beijing aims to boost its influence in the Indian Ocean. The deal follows an earlier Chinese investment of $1.4 billion to carry out reclamation work for the wider Colombo International Financial City development, strategically located next to Sri Lanka’s harbour, the only deep sea container port in the region. The countries hope this will create a financial centre in the Indian Ocean comparable with those in Singapore and Europe, drawing billions in foreign investment and thousands of jobs.Sri Lankan officials said 60 percent of the 269 hectare (672 acre) reclamation, due to finish next year. Here Pumps dredge sand to reclaim land at the site of a Chinese-funded $1.4 billion reclamation project in Colombo, , a deal that preceded a new $1 billion investment in three 60-storey buildings near the country’s main port.
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