Sri Lanka's deep sea harbour port facilities at Hambantota. Its government has approved the sale of an 85 per cent stake in the loss-making but strategically-placed deep sea harbour to state-owned China Merchants Port Holdings for US$1.12 billion. Photo: AFP
Sri Lanka's deep sea harbour port facilities at Hambantota. Its government has approved the sale of an 85 per cent stake in the loss-making but strategically-placed deep sea harbour to state-owned China Merchants Port Holdings for US$1.12 billion. Photo: AFP
Business /  Companies

China Merchants Port to invest up to US$1.12b in Sri Lanka’s Hambantota Port in revised deal

State-owned Chinese firm to take 85pc stake in port which is likely to play a strategic role in the ‘Belt and Road’ initiative

Amanda LeeReuters
Amanda Lee and Reuters

Updated: 2:55pm, 20 Jul, 2018

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Sri Lanka's deep sea harbour port facilities at Hambantota. Its government has approved the sale of an 85 per cent stake in the loss-making but strategically-placed deep sea harbour to state-owned China Merchants Port Holdings for US$1.12 billion. Photo: AFP
Sri Lanka's deep sea harbour port facilities at Hambantota. Its government has approved the sale of an 85 per cent stake in the loss-making but strategically-placed deep sea harbour to state-owned China Merchants Port Holdings for US$1.12 billion. Photo: AFP
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