China Agrees To Amend Agreement & Commence Work on Hambantota Port Next Month

In response to a question raised by a journalist at the weekly Cabinet briefing held yesterday, Minister of Sports cum Co-Cabinet Spokesman Jayasekara said, that the Cabinet has approved the proposal made by the Minister of Ports and Shipping Mahinda Samarasinghe to amend the concessionary agreement between the investing company and Sri Lanka Ports Authority (SLPA).

On the request of the government, the Chinese Company has agreed to amend the previous agreement in regard to payments in following manner to pay, 30% (1 instalment) on the effective date , 10% after one month (2 instalments) and rest 60% within 06 months (3 instalments). It has also been decided to sign an additional agreement in this regard.

Development work on the Hambantota Port through a Public-Private- Partnership may commence in December 2017 under the amended concessionary agreement, Spokesman, Minister Dayasiri Jayasekara said yesterday.