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China, India Working on Vital Port Projects in Sri Lanka

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China and India are simultaneously funding to build three vital ports in Sri Lanka in the next three years. The Minister of Ports and Shipping Mahinda Samarasinghe said that China would invest between US$ 400 to 600 million to initiate the third phase of the much-debated Hambantota port project.

The Indian government has pledged US$ 40 million to enhance the existing Kankesanthurai Port. “This development project is now in the process and would be completed early next year.” The Minister said that the Treasury has secured the total lease payment of US$ 974 million for Hambantota port project from the Chin and Beijing has already invested US$ 146 million for the construction work in the Hambantota Port.

The Minister said that a lot of preparation and talking had been going on to develop the East Container Terminal (ECT) and finally the SLPA (Sri Lankan Ports Authority) has decided to invest US$ 100 million to construct it.

The Port of Colombo is positioned as the world’s leading container port and one of the best ports for connectivity in the world. The Minister added that they will also add more facilities to the Colombo Port to offer high-grade facilities to cruise liners and work with the travel industry to promote Sri Lanka’s cruise liner business.”

More News at EurAsian Times

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