It's a deal that the Sri Lankan government hopes will pay off some of its multi-billion dollar debts to China.

A controversial agreement has been signed to lease the port of Hambantota to a Chinese state-owned company for the next 99 years.

The Chinese government helped foot the $1.3bn bill for the construction of the redeveloped port in southern Sri Lanka.

An industrial zone near the port hopes to attract Chinese investment.

Critics complain a Chinese colony is being built.

Sri Lankan leaders insist Chinese debts need to be repaid and the deal will attract investment and create jobs.

Is the deal too high a price to pay?

Presenter: Richelle Carey

Guests:

Christopher Balding - Associate professor at Peking University HSBC Business School

Einar Tangen - Political affairs analyst

Uday Bhaskar - Director of Society for Policy Studies in New Delhi

Source: Al Jazeera News