China Merchant pays USD 97.365 m second tranche

Published : 9:09 am  January 15, 2018 | No comments so far |  | 

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 China Merchant Port Holdings (CMPort) yesterday made a payment of US$ 97.365 million to the Sri Lanka Ports Authority (SLPA) as the second tranche of its investment in the Public-Private Partnership (PPP).

 

With the second payment, China Merchant Port Holdings (CMPort) had paid US$ 389.462 million to date.


The final payment is scheduled to be paid within six months from December 9, 2017, when the agreement was signed.


SLPA Chairman Parakrama Dissanayake said CMPort was one of the most successful global companies in the Ports Sector.


“Their investment in the Port of Hambantota can be described as a credible vote of confidence in its potential as well as in the economy of Sri Lanka,” he said.


The two companies established in Hambantota plan to invest an additional US$ 400 million to US$ 600 million on Phase I and II of the Hambantota Port, in 2018-19.


These investments are expected to attract many foreign investors to the country, making Sri Lanka a pivotal maritime and Logistics Centre.

 

 

Their investment in the Port of Hambantota can be described as a credible vote of confidence in its potential as well as in the economy of Sri Lanka   

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