The Sri Lanka Podujana Peramuna (SLPP) denied the allegations made by President Maithripala Sirisena on the Lotus Tower deal.
SLPP members spoke both in Parliament and at a press briefing in Colombo today and denied the allegations.
The SLPP also issued a statement calling for an investigation into the claims.
SLPP member Rohitha Abeygunawardena questioned the failure to properly investigate the allegations since 2015, if the allegations were true.
He said that he also expects China to issue a statement on the allegations made by the President.
Meanwhile, former Director General of the Telecommunications Regulatory Commission (TRC) Anusha Pelpita said that there are documents with the TRC to prove that the funds for the project had not been misused.
He also said that there is proof that Sri Lanka had talks with the Chinese company involved in the project at the time, which the President now says does not exist.
The opening of the Colombo Lotus Tower yesterday was marred by claims of a major scam linked to the deal in 2012.
Speaking at the opening of the tower, President Maithripala Sirisena said that in 2012 a Chinese company had been paid Rs. 2 billion by the then Government as part of the deal for the project.
He said that the money had been paid to Aerospace Long-March International Trade Co. Ltd (ALIT) in China.
However, Sirisena, who was elected President in 2015, said that by 2016 there was no sign of ALIT.
As a result, the President said that there was no sign of the Rs. 2 billion which was paid by the then Government for the project.