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Sri Lanka: Hambantota to revisit bunkering business after landmark deal

22 Jun 2018

Hambantota International Port Group (HIPG), a joint venture company between the Sri Lankan Government and China Merchant Port Holdings (CMPH), intends to revisit and develop the bunkering sector at Hambantota.

The development comes after CMPH paid a final $584 million to the Sri Lanka Ports Authority (SLPA) on Thursday as a final tranche of the Public-Private Partnership (PPP) investment for Hambantota Port.

The Chief Operating Officer at HIPG notes the joint venture will be first focusing on establishing maritime businesses at the port.

“Starting from ship-handling services and bunkering; although those services are being provided right now, we need to develop them,” Tissa Wickramasinghe told reporters at a press conference, as quoted by Daily FT.

“Right now our marketing team is travelling globally trying to bring this business in.”

HIPG, meanwhile, has already received 15 proposals to set up facilities within the port, says Sri Lanka Ports Minister Mahinda Samarasinghe. 

“HIPG and HIPS (Hambantota International Port Services) expect to set up port-related industries within the Hambantota Port similar to the Colombo Port,” he notes.

“HIPG has received investment proposals from local and international investors.” 

Dr. Parakrama Dissanayake, the Chairman of SLPA and HIPS, notes the bunker tanks at the port have also been “cleaned out”.

CMPH intends to invest a further $300 to $600 million in the Hambantota Port to boost infrastructure development.

Published: 22 June, 2018
 

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