China to Further Assist Hambantota Port Development (Sri Lanka)

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>

<< Dec 2017 >>
MTWTFSS
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

Congress “Hydraulic Engineering Structures of Water Transport”

This event will take place in early February, before the opening of the 2018 season when dredging and hydraulic engineering works start…

read more >

3rd European Dredging Summit

The latest in ACI’s global series of dredging summits, the 3rd European Dredging Summit  will once again bring together leading experts…

read more >

2nd East Africa Port Expansion Conference

This event will gather senior port representatives, key stakeholders, expert consultants and contractors, technology providers as well…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you’ll reach countless professionals in the sector. For more information, click below....

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply