It’s unclear how Tokyo and Delhi will divide their majority stake in the port.
The government said the Indian High Commission in Colombo has “approved” Sri Lanka’s latest offer.
There was no immediate response from India’s foreign ministry, and a government spokesman said Japan is yet to respond to the new proposal.
Colombo is located in the Indian Ocean between the major hubs of Dubai and Singapore, meaning control of its ports is highly sought after. Two Chinese submarines berthed at the CICT — which started operations in 2013 — in 2014, sparking concerns in India.
Since then, Sri Lanka has refused permission for further submarine calls.
In December 2017, unable to repay a huge Chinese loan, Sri Lanka allowed China Merchants Port Holdings to take over the southern Hambantota port, which straddles the world’s busiest east-west shipping route.
The deal, which gave the Chinese company a 99-year lease, raised fears about Beijing’s use of “debt traps” in exerting its influence abroad.
India and the United States have also expressed concerns that a Chinese foothold at Hambantota could give Beijing a military advantage in the Indian Ocean.
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