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: AFPSri 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

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

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: AFPSri 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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