Asia/Pacific News
China Merchants Port Holdings Takes over Running of Hambantota Port
Monday December 18, 2017
The southern Sri Lankan port of Hambantota is to be operated by China Merchants Port Holdings under a leasing deal with the Sri Lankan government.
Discussions over the port's future have been continuing for some time.
The Chinese firm will hold a 70% stake in the facility in a joint venture with the Sri Lanka Ports Authority, according to the South China Morning Post.
Hambantota was built seven years ago on Chinese loans and the move will see th Sri Lankan government's loan burden reduced.
China Merchants is expected to invest further in the port which has struggled to make a profit.
Bunkering is among the marine services available at the port.
