Hambantota port agreement signing to go ahead tomorrow

The Hambantota International Port Group (Pvt) Ltd – with a capital of USD 794 million and 15% shares to SLPA and 85% to CMPort as in SAGT terminal and CICT terminal will also be established. Accordingly, instead of 80:20 share distribution in the initial agreement shares of overall investment will be revised as 69.55 to CMPort and 30.45 for SLPA. (Colombo Gazette) The signing of the Hambantota port agreement is to go ahead tomorrow despite the matter not being debated in Parliament today.Under the agreement the Sri Lanka Ports Authority and China Merchant Port Holdings Company Ltd will establish the Hambantota International Port Services Co. (Pvt) Ltd – with a capital of USD 606 million and 50.7% shares to SLPA and 49.3% to CMPort.