Sri Lanka, Sept. 21 -- The Aerospace Long-march International Trade Co. Ltd. (ALIT) says the advance payment paid by the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) was only used for the purposes of the Lotus Tower project.

Issuing a clarification concerning the company's participation in the Lotus Tower project, the ALIT said the TRCSL had paid USD 15,644,980 as advance payment to the account of China National Electronics Importers & Exporters Corporation (CEIEC) in China Export-Import Bank of China on the 9th of October 2012.

ALIT and CEIEC had formed a consortium in August 2010 to pursuit the Lotus Tower project and the contract was signed in January 2012, the statement said. "On Aug. 2015, the ALIT entrusted CEIEC ...