China Invests in Hambantota Port Project

China Merchants Holdings (International) Company and China Harbour Engineering Company Ltd. (the China Joint Venture) yesterday reached agreement with Sri Lanka Ports Authority (SLPA) on key terms in relation to the development of Phase II of the Hambantota Port Project.

Under the deal, the China Joint Venture and SLPA will enter into a supply, operate and transfer agreement (SOT Agreement) and establish the Project Company that will gain the right to operate the Hambantota Port new container terminal which will comprise of two 100,000 DWT container berths and two 10,000 DWT feeder berths.

The concession period to be granted to the Project Company under the Agreement shall initially be 35 years from the commencement of operation of the Company, with the option for five more years.

The total capital investment to be made by SLPA and the China Joint Venture into the Project Company shall be approximately $601 million and the capital investment to be made by the China Joint Venture into the Project Company shall be approximately $391 million, resulting in the China Joint Venture having a final shareholding in the Project Company of 64.98%.

 

September 17, 2014

 

 

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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