Apr 21, 2017

Amended H’tota port agreement to cabinet on 25th Featured

The special projects ministry is to submit to the cabinet on April 25 an amended agreement for leasing the Hambantota port to China Merchant Port Holdings Company.

The agreement has been amended in consideration of the proposals made by the ports ministry and other parties.

The amendments include a reduction of the leasing period from 99 years to between 50 and 60 years, Sri Lanka government acquiring the port after the expiration of the leasing period with a nominal payment of one dollar instead of its value at the time, Sri Lanka to be in charge of the port security and ownership of the port to be changed from 80-20 to either 60-40 or 51-49.