China asserts protests have not affected relationship with Sri Lanka

The Ambassador said that economic development is most important but is not enough and so China will continue its efforts to support Sri Lankan students to study in China and train in China. The Ambassador also said that he faces several criticisms by some people both in Sri Lanka and outside the island yet he will continue to discuss with Beijing and request more assistance for Sri Lanka. He also said that Sri Lanka needs industrialization and an industrial zone is the best way forward.“Sri Lanka has many giant projects, but how about human power? We need professionals. We need engineers, we need managers. So all students who study in China and when they come back they can easily find a job. Why? Becaue there are so many projects in Sri Lanka which are supported by the Chinese government and its people. We lack qualified professionals,” he said.On the Hambantota Port the Ambassador said that some people say there will be around 500 jobs created but he feels the number should be 50,000. (Colombo Gazette) “We will also have some joint universities in future,” he added.A ceremony was held today at the Chinese Embassy to award Chinese Government Scholarships to Sri Lankan students. “Yes there has been some noise. But this has not changed our friendship,” he said at an event held at the Chinese Embassy in Colombo today. China today asserted that recent protests have not affected China’s relationship with Sri Lanka.China’s Ambassador to Sri Lanka, Yi Xianliang said that China will fully support Sri Lanka in education, science and technology. “This is a very proud moment for us and I congratulate all these students. This is a scholarship directly from the Chinese government. Not from any university or private party. Chinese scholarships have a lot of requirements. Not only for Sri Lankan’s but for all other countries, the conditions and the terms are the same,” he said.He said the students will be able to  stand as a symbol of friendship between China and Sri Lanka and also help develop the country.“From 1000 years Chinese people and Chinese government we attach so much importance with the relations with Sri Lanka. Sri Lanka is the number one country who gets financial assistance from China. In donations and grants China donates at least 100 million dollars. We have so many projects here. Sri Lanka gets the most amounts of investments from China. In the education and training corporation also China provides the most support to Sri Lanka out of all other countries. Every year China more than 1300 Sri Lankan’s travel to China to study and undergo training programs. China also conducts special classes to Sri Lanka. Why China has continued to support since ancient times? It is because of our strong friendship. Sri Lanka and China are trusted friends. Yes there has been some noise. But this has not changed our friendship,” he said. read more

Terex completes MHPS sale to Konecranes

first_imgTerex Corporation in the latest move in its divestment program has announced that it has completed the sale of its Material Handling and Port Solutions business (MHPS) to Konecranes Plc for $595 million and €200 million in cash and 19.6 million newly issued class B shares representing a 25% interest in Konecranes.“We believe that the Konecranes-MHPS combination represents compelling industrial logic that will deliver significant value to Konecranes customers, team members and shareholders, including Terex” said John Garrison, Terex President and CEO. In mining terms, MHPS includes assets such as grabs used in bulk minerals handling at mineral ports, as well as overhead cranes used in the manufacturing of mining equipment, for heavy maintenance as well as mineral processing plants.Garrison continued, “The sale of our MHPS business is a major milestone on our journey to become a more focused, high performance enterprise. We are committed to delivering improved profitability and return on capital across Terex as we implement our strategy of focus, simplify, and execute to win. Also, we will move forward over the coming weeks with our planned debt reduction, significantly reducing our interest expense and leverage as we enter 2017.”The final transaction consideration is subject to post-closing adjustments for cash, debt, working capital, MHPS actual 2016 EBITDA and the closing of the sale of the Stahl CraneSystems business.last_img read more