Govt signed rental contract H'tota end of port of January

The government will go ahead with the proposed lease of Hambantota Port with China Merchants Holdings (CMPH) at the end of January, said International Trade Minister Malik Samarawickrama in a special press conference held yesterday in Colombo .

The minister said that the lease would be $ 1.1 billion and it would be for a period of 99 years. The Port Authority of Sri Lanka will have a 20% interest. He said President Maithripala Sirisena and Cabinet approved the draft.

Samarawickrama said again visit this case in order to smooth out the unfavorable points in Sri Lanka. Samarawickrama said the 80 percent stake was still under negotiation.

The minister also said that in addition to paying $ 1.1 trillion, CMPH also invest $ 600 million to install portals and ports of handling equipment and other infrastructure in the port of Hambantota. He also said the host of an important ceremony next week in the port of Hambantota to mark a series of development projects in the south.

Samarawickrama also said that a total of more than 1000 acres in the port of Hambantota and also economic zones would be created in other regions of the southern province. "We will take the whole country for development in and around the port of Hambantota as accused by the opposition," he said. Samarawickrama ensures that only less than 5% of the land occupied by people can be used and will be paid compensation.

Several senior ministers, including Finance Minister Ravi Karunanayake of the Minister of Ports and Navigation, Arjuna Ranatunga, were also appointed to study before finalizing the agreement. "We will sign the agreement later in late January," added the minister. Finance Minister Ravi Karunanayake told the US $ 1,100 million the Chinese company would be used mainly for debt service. "First try to settle high interest loans," he said. The minister recalled that when the port of Hambantota, the Suriyawewa stadium and the airport were built Mattala, several families were displaced. The total number of families exceeded 1,500. You wonder why people made no noise during this time?

Similarly, when the port terminals Colombo, SAGT and ISTC were leased, no opposition, he said.

Commenting on the economy Karunanayake said today that the unity government with prudent economic measures has revolved around the economy that was in the intensive care unit.








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