H’tota Port Development Agreement Signed with Chinese Merchants

For revitalization’ of the Hambantota Port , a  Framework Agreement was signed with China Merchants Port Holdings Company Limited on a Private Public Partnership (PPP) model. The agreement was executed in accordance with the Cabinet decisions  taken in this connection.

 It outlines the understanding between the Government of Sri Lanka and Chinese State-owned Corporate – China Merchants Port Holdings Company Limited.

A Concession Agreement is to be executed, upon completion of a due diligence to be performed by the China Merchants Port Holdings Company Limited,’ the statement issued by the Ministry of Development Strategies and International Trade .

The government is to convert a percentage of the loans obtained from China to build the port equity under this programme. President Maithripala Sirisena, on his second anniversary in office, will declare open the port development in January , which is part of the Ruhunu Development Area Project .