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: AFP