CMPort to Develop Sri Lanka’s Hambantota Port

State-owned China Merchants Port Holdings (CMPort) is set to invest up to USD 1.12 billion in the development, management and operation of Sri Lanka’s Hambantota Port.

The investment was unveiled on July 25, as part of the concession deal terms agreed between CMPort, Sri Lanka Ports Authority (SLPA), the Government of the Democratic Socialist Republic of Sri Lanka (GOSL), Hambantota International Port Group (HIPG) and Hambantota International Port Services Company (HIPS).

The investment would go into Hambantota port and marine-related activities, of which the total amount to be paid to SLPA for the acquisition of the 85% issued share capital of HIPG will be USD 973.6 million and the remaining USD 146.342 million will be used for Hambantota port and marine-related activities over a period of one year.

Under the 99-year concession agreement, SLPA and GOSL will grant the right to develop, operate and manage the Hambantota Port to HIPG, while the right to develop, operate and manage the common user facilities for the operation of the port will be granted to HIPS.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >