Govt. hands over Hambantota Port reins to China Merchant Group
By Ashwin Hemmathagama – Our Lobby Correspondent
The ceremonial handover of the Magampura Mahinda Rajapaksa Port took place on Saturday in Parliament in the presence of the top brass of China Merchant Group Ltd., with the first payment of $ 292.1 million made to the Government.
Prime Minister Ranil Wickremesinghe officiated over the handover of operations of the port to the two joint venture companies - Hambantota International Port Group Ltd. (HIPG) and Hambantota International Port Services Ltd. (HIPS). According to the Prime Minister, the Unity Government has completed an election promise to put the loss-making Magampura Mahinda Rajapaksa Port on the right track and to use it as a launch pad for regional development.
“We pledged to make it a busy port. The first step toward tha...