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

2018-01-14 12:48:53
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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.


  Comments - 5

  • ANTON Sunday, 14 January 2018 13:03

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

    Reply : 4       2

    Chanaka Sunday, 14 January 2018 13:49

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

    Reply : 6       11

    Led Hogan Sunday, 14 January 2018 20:05

    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.

    Reply : 1       3

    Raj Sunday, 14 January 2018 21:49

    Payment to hoist Chinese flags!

    Reply : 4       1

    Reader Monday, 15 January 2018 08:15

    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!

    Reply : 1       3

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