Last Updated : 2019-07-17 10:02:00

Cabinet approves H’tota Port deal

25 July 2017 02:13 pm - 9     - {{hitsCtrl.values.hits}}

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The Cabinet today approved the proposal to lease out the Hambantota Port to China Merchants Company, Ports and Shipping Minister Mahinda Samarasinghe said.  

Earlier, it was reported that two separate companies would be formed to deal with administrative and commercial operations of the port.

The majority equity of the company to be formed for administrative operations would be vested with the Sri Lankan side, he said.

However, the Chinese company would possess majority equity in the company proposed for commercial operations of the Port.

By Pradeep Dilrukshana

  Comments - 9

  • lalu Tuesday, 25 July 2017 02:28 PM

    Good example of Build, Operate and Own. For us Sri Lankans all gone

    KOLA KOTIYA Tuesday, 25 July 2017 02:35 PM

    TOM PORT WORKERS WILL STRIKE

    ceylon Tuesday, 25 July 2017 02:43 PM

    now time has come to srilanka to make a president men like ranjan and sarath fonseka.thete is no any other hope.corrupt and dis able leaders destroy country. via DM Android App

    patriot Tuesday, 25 July 2017 02:50 PM

    Is next MRIA?

    premila60 Tuesday, 25 July 2017 04:36 PM

    Finally :-)

    Hemantha Tuesday, 25 July 2017 05:19 PM

    Front side of the COW is owned by Sri Lankans. The rear side is given to China. Very good deal.

    ali Tuesday, 25 July 2017 05:59 PM

    There is no other option to pay back the loan. Now wait and watch how this Chinese company is going to make this white elephant into a profitable port.

    ceylon Tuesday, 25 July 2017 09:10 PM

    force rajapaksa families to pay the debts to china from looted money. via DM Android App

    mani Wednesday, 26 July 2017 09:58 AM

    China is developing 7.5 billion port with Malaysia to handle 65 million teus - so what chance does Sri Lanka have


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