Wednesday, June 23, 2010

Sri Lanka in port expansion deal with China

The Sri Lanka ports Authority has signed a contract with a Chinese firm, China Harbour Engineering Company, to start the second phase of a new port in Hambantota on the south coast, a statement said.

Phase two would start in November this year with the completion of the first phase of the port project, the SLPA statement said.The agreement was signed by SLPA chairman.Priyath B. Wickrama and the chairman of the China Harbour Engineering Company Sun Ziyu.

China will also provide concessionary finance for the second phase of the port project.

The first phase of Hambantota port is also being financed by Chinese loans and built by Chinese firms.

The SLPA statement said construction work on the first phase is ahead of schedule with much of the infrastructure work almost completed.

Phase two of the project will include further excavation of the site for the harbor basin and dredging of the approach channel a well as building berths for ships.

© Lanka Business Online

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