China to Further Assist Hambantota Port Development (Sri Lanka)

China to Further Assist Hambantota Port Development

The Cabinet of Ministers approved to obtain further assistance from China to develop Phase I of Hambantota Port Development Project.

The Cabinet approved President Mahinda Rajapaksa’s proposal to enter into a Framework Agreement with Chinese government to obtain financial assistance from the Exim Bank of China under Chinese Government Concessional Loan Facility.

This loan will be used to finance the additional cost for ancillary works and supply of equipment of Phase I of the Hambantota Port Development Project.

The Phase I of the Project, under which the construction of the breakwater, approaching channel, harbor basin, stocking yard, roads and administration building were completed, was financed by China’s Exim Bank. The Exim Bank has also agreed to provide a Chinese government concessional loan of 1 Billion Yuan (approximately US$ 157 million) to finance Phase II of the Hambantota Port Development Project.

The proposed project will benefit the local community economically and socially and will generate direct income and indirect employment opportunities in the area.

Source: slpa.lk, January 30, 2013

Share this article

Follow Dredging Today

3 thoughts on “China to Further Assist Hambantota Port Development (Sri Lanka)”

Comments are closed.

Events>

<< Oct 2016 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Marine & Coastal Civil Engineering 2016

Marine & Coastal Civil Engineering 2016 is the UK’s leading event in presenting global solutions and innovative concepts to professionals…

read more >

MIDAS Final Meeting

This meeting will showcase the final results and outcomes arising from the past 3 years of MIDAS research. The meeting is open to all, but…

read more >

INNOVATION IN FLOOD RISK MANAGEMENT IN THE UK

This seminar will cover the benefits and approaches to innovation in flood risk management. This includes innovations in engagement with…

read more >

HTX COPRI CHAPTER – FALL CONFERENCE 2016

HTX COPRI goals are to enhance the advancement of scientific and engineering knowledge for members engaged in sustainable development…

read more >

Jobs>

Design Engineer Standard Cutter Suction Dredgers

As a Design Engineer you will be involved in the concept, basic and detail design of Cutter Suction Dredgers...

apply

Hydrographic Surveyor

Gahagan & Bryant Associates, Inc. (GBA) is posting the following career opportunity in their Houston, TX and Baltimore, MD and Tampa, FL offices....

apply

Dredge Masters, Engineers and Superintendent\\\\\\\'s Urgently Required!

Flagship Management is working with a number of leading international marine and dredging organizations and require the following candidates for a range of global projects...

apply