The Sri Lankan port of Hambantota was officially handed to China in early December, who will now embark on a 99-year lease for the facility.
The port will be managed by Hambantota International Port Group (HIPG) and Hambantota International Port Services (HIPS), two new companies set up by the China Merchants Port Holdings Company and the Sri Lanka Ports Authority.
“We had finished all the civil engineering of the project by November 2015 and most of the handling facilities will have been delivered to the project site within this year,” said Liu Zhaohui, the Assistance Project Manager from China Harbour Engineering Company (CHEC), as quoted by Xinhua.
“Only two bunkering barges will be remaining, by mid-May next year, and the second phase will be entirely completed.”
Sri Lankan Prime Minister Ranil Wickremesinghe was happy with the development.
“We have made arrangements for the management and long-term success of the Hambantota Port,” he said.
“The Sri Lankan and Chinese joint venture, which has taken over the management of this port, and its operations, will ensure an additional port in the Indian Ocean.”
Image credit: Deneth17
Published: 29 December, 2017
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