Sri Lanka still negotiating with China over Hambantota port: PM

ECONOMYNEXT – Sri Lanka is still negotiating with China over several agreements relating to the Hambantota Port, Prime Minister Ranil Wickremesinghe said.

He said a concession agreement and a number of other agreements had to be signed.

Prime Minister Wickremesinghe told reporters in Colombo that a 99-year lease would be given to a joint venture company to run the port.

The policy to give the land on lease and the administration had halted an earlier plan to give land freehold in Colombo’s Port City, he said.

China Merchant Port Holdings would get 80 percent of the stock of the firm. (Colombo/Dec05/2016)

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