China Merchant pays second tranche of US$97.3mn in H’tota Port investment

14 January 2018 12:48 pm - 5 - {{hitsCtrl.values.hits}}

A A A

China Merchant Port Holdings (CMPort) today made the payment of US$ 97.365 million to the Sri Lanka Ports Authority (SLPA) as the second tranche of its investment in the Public-Private Partnership (PPP).

Sri Lanka formally handed over commercial activities of the Hambantota Port to the Chinese company in December 2017 and received $292 million out of the $1.12 billion deal, as the first tranche.

With the second payment, China Merchant Port Holdings (CMPort) had paid US$ 389.462 million to date.

The final payment is scheduled to be paid within six months of December 9, 2017, when the agreement was signed.

SLPA Chairman Parakrama Dissanayake said CMPort was one of the most successful global companies in the Ports sector, and their investment in the Port of Hambantota could be described as a credible vote of confidence in its potential as well as in the economy of Sri Lanka.

The two companies established in Hambantota plan to invest an additional US$ 400 million to US$ 600 million on Phase I and II of the Hambantota Port, in 2018-19.

These investments is expected to attract many foreign investors to the country, making Sri Lanka a pivotal maritime and Logistics Centre.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 5

ANTON Sunday, 14 January 2018 01:03 PM

BUT WE DON'T LIKE TO HEAR THE EQUIVALENT THING TO BOND SCAM ............. PORT SCAM ......

Chanaka Sunday, 14 January 2018 01:49 PM

Hey when's the party? More luxury land rovers on its way now is it?

Led Hogan Sunday, 14 January 2018 08:05 PM

This check will be handed over to that corrupt and pathetically inept govt institution SriLankan Airlines to cover their debts and losses owed to international Banks.

Raj Sunday, 14 January 2018 09:49 PM

Payment to hoist Chinese flags!

Reader Monday, 15 January 2018 08:15 AM

Receiving the cheque is not an achievement but receiving part payment for sale of national asset. Built by last regime by borrowing huge money at high rate and now settling that loan!

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

China Merchant pays second tranche of US$97.3mn in H’tota Port investment

Comments - 5

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

Confusion remains if April 15 is a bank holiday

23 year old youth ends up having his testicles removed

April 15 declared a government holiday

New Visa procedure implemented

Belgian traveller scammed in Kalutara

MIRROR CRICKET

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

TODAY'S HEADLINES

Debt Restructuring Talks: Bondholders Fear Regime Change Impact

Don’t be deceived by NPP and Cardinal Ranjith: UNP

Emirates halts check-in for connections, UL cancels flights to Dubai

Plans afoot to obtain “Blue Flag Beaches” certification for SL beaches

Hardik fined Rs 12 lakh for violating IPL code of conduct after win over Punjab Kings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings