May 08, 2017

Port leasing to be finalized before PM’s China visit! Featured

The government intends reaching final agreement with regard to the leasing of Hambantota port to China Merchant Company before prime minister Ranil Wickremesinghe begins a tour of China on May 13.

The amended draft of the agreement, prepared by a cabinet subcommittee, was sent to port minister Arjuna Ranatunga last week for his observations, say government sources.

The document is due to be submitted, with the minister’s recommendations, to the cabinet meeting tomorrow (09).

The amendments includes the ownership change from 20 per cent to government and 80 pc to China Merchant, to 40 pc to government and 60 pc to the Chinese company.

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