Hirunews Logo
HiruNews
HiruNews
HiruNews
Framework+agreement+signed+with+Chinese+company+to+develop+Hambantota+port
Friday, 09 December 2016 - 12:37
Framework agreement signed with Chinese company to develop Hambantota port
37

Shares
4,471

Views

An initial framework agreement to re-develop Hambantota Port under the Public Private Partnership program has been signed between the Sri Lankan government and the Chinese government affiliated China Merchant Ports Holding Company.

The ministry of International Trade and development Strategies stated in a communiqué that a sponsorship agreement will be signed after the Chinese company completed an assessment process.

Later terms and conditions of the final agreement will be discussed following the signing of a framework MoU.

The government decided last week to sign this agreement with the China Merchant Ports Holding company.

Accordingly, 80% of the ownership of Hambantota port will be transferred to the Chinese investor. Thereafter, the investor will invest US$ 1.12 billion to revive Magampura port.

$5 million US dollars should be paid soon after the singing of the framework agreement of the MoU. 

This will remain as a security fund.   

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
HiruNews
Thursday, 16 August 2018 - 16:24
Mangroves play a critical role in maintaining the ecological balance in Sri Lanka's coastal areas.However, some money-hungry people do not understand this.Our... Read More
HiruNews
News Image
Hiru News Programme Segments
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
2,817 Views
HiruNews
HiruNews
HiruNews
6,765 Views
HiruNews
HiruNews
HiruNews
8,079 Views
HiruNews
HiruNews
HiruNews
20,833 Views
HiruNews
HiruNews
HiruNews
692 Views
HiruNews
HiruNews
HiruNews
52,304 Views
Top