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Last updateThu, 16 Aug 2018 8am

Business News

China Merchant Port Holdings makes a second payment of 97.365 million US dollars to Sri Lanka Ports Authority

 

China Merchant Port Holdings has made a payment of 97.365 million US dollars to the Sri Lanka Ports Authority as the second tranche of its investment in the Public-Private Partnership on Hambantota port development. Commercial activities of the port were handed over to the Chinese company in December 2017. A first tranche of 292 million US dollars was paid previously. With the second payment, China Merchant Port Holdings has paid 389.462 million US dollars to date. The final payment is scheduled to be paid within the next five months. Ports Authority Chairman Parakrama Dissanayake said CMPort’s investment could be described as a credible vote of confidence in its potential as well as in the economy of Sri Lanka.

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