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Sri Lanka expects Hambantota port sale proceeds from January

ECONOMYNEXT – Sri Lanka is expecting payments from China for the sale of Hambantota port to flow in from January 2017, Central Bank Governor Indrajith Coomaraswamy said.

The first payment of 108 million dollars is expected in January, another 300 million dollars in March and the balance around June, he said.

Sri Lanka has said it will sell an 80 percent stake in Hambantota port to China for a billion US dollars.

The sale, where details are unknown, has run into some controversy.

The inflows will help boost forex reserves Coomaraswamy said. (Colombo/Nov29/2016)

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