China's Cosco Shipyard Group is plotting a new shipyard in Sri Lanka.
EconomyNext reported the Chinese state giant is working with China Harbour Engineering Company on the feasibility of building a plant at Hambantota port, according to Sri Lanka Ports Authority chairman Dhammika Ranatunga
There is a memorandum of understanding in place involving the three parties.
Earlier reports said the drydock may require a $600m investment.
Hambantota
