The governments of Japan, India and Sri Lanka have agreed to develop a container terminal at the Port of Colombo, which has attracted major investment from China under its Belt and Road initiative as per reports. The three will sign a memorandum of understanding in the coming months for the east container terminal, located at the newly expanded south part of the Port of Colombo, to deepen it and develop a facility to allow large container ships to enter. One project in the country includes Port City Colombo being built by China Communications Construction Co., or CCCC. The plan pitched as a new hub between Singapore and Dubai — with a marina, a hospital, shopping malls, and 21,000 apartments and homes.