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China to build port in Sri Lanka

B. Muralidhar Reddy

COLOMBO: China and Sri Lanka on Monday initialled an agreement worth $360 million for the construction of the Hambantota harbour in the south.

The agreement was signed by the representatives of the China Harbour Engineering Company Limited and the Sino Hydro Corporation Limited and the Sri Lanka Ports Authority.

The pact is a follow up to the recent visit of President Mahinda Rajapaksa to Beijing. Eight agreements including one for the development of the Hambantota district zone were concluded during the visit. "This is a large scale investment project granted from the Chinese Government as a direct and immediate response to the President Mahinda Rajapaksa's request made during the state visit to China recently," said an official statement.

It said Mr. Rajapaksa had instructed deputy chairman of the Sri Lanka Ports Authority Priyath Bandu Wickrama to commence construction by June. The Chinese government will fund 85 per cent of the cost. The statement said the Government had the environmental impact assessment and the progress report. The port has the potential to provide direct employment to 6,000 persons and indirect employment to 50,000.

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