Hambantota Port Archives - Ceylon Independent

Govt did not sell off state property – Daya Gamage

5Sep

By Faraz ShauketalyNo Comments

LOCAL

Govt did not sell off state property – Daya Gamage

Despite the allegations directed by the opposition, the government has not sold off any state property, says Social Welfare and Primary Industries Minister Daya Gamage. He stated this addressing an event held in Homagama yesterday (04). The incumbent government has retrieved the valuable lands that had been given to foreign countries by the previous government, according to the Minister. Hambantota Port and Mattala Airport have been built on loan agreements by the previous government, hence ownership of these properties would be taken over by foreign countries if the loans could not be paid off, the Minister further said.

Chinese stable economic performance good news to Sri Lanka – Cheng Xueyuan

30Jul

By Faraz ShauketalyNo Comments

Business

Chinese stable economic performance good news to Sri Lanka – Cheng Xueyuan

Chinese Ambassador to Sri Lanka Cheng Xueyuan issuing a press release has stated that the stable performance of Chinese economy with steady momentum is good news for the whole world including Sri Lanka. Stating that Sri Lanka is a key component of the “21st Century Maritime Silk Road”, with Hambantota Port and Colombo Port City he states China-Sri Lanka economic and trade cooperation will inject new vigor to Sri Lanka’s economic and social development. The complete message of the Ambassador is as follows: China’s Economy Registered a Stable Performance with Good Momentum, Good News for the Whole World Including Sri Lanka According to the statistics released by China’s National Bureau of Statistics, China’s GDP growth rate in the first half of 2018 reached 6.8%. The national eco...

10Jul

By Faraz ShauketalyNo Comments

Business, Main Story

Govt. gets aggressive on ports as pivot

By Nisthar Cassim Hot on the heels of concluding the landmark revamp of Hambantota Port, the Government is unleashing a slew of initiatives to develop the rest of the Ports in the country as a pivot to strengthen the island’s hub status and boost the economy. As per measures already approved, multiple Ports in the country will see over $ 200 million in immediate investment, with more likely if plans go well. Ports and Shipping Minister Mahinda Samarasinghe told the Daily FT that plans are underway to further expand facilities in the Colombo Port, apart from new measures to maximise the potential of the Ports of Trincomalee and Galle, as well as revive prospects for Kankesanthurai and Oluvil. In a bid to improve the competitiveness of the Sri Lanka Ports Authority’s (SLPA) flags...

Sri Lanka receives the US$ 584 mn third payment of Hambantota Port deal from Chinese company

21Jun

By Faraz ShauketalyNo Comments

LOCAL, Main Story

Sri Lanka receives the US$ 584 mn third payment of Hambantota Port deal from Chinese company

The Sri Lankan government said Wednesday that it has received the third tranche of the proceeds from China Merchant Port Holdings Co. Ltd on the account of handing over of operations of Hambantota Port. China Merchant Port Holdings has made a payment of US$ 584 million (Rs. 93 billion) to the Sri Lanka Ports Authority (SLPA) as the third tranche of its investment in the Public-Private Partnership on Hambantota port development, the SLPA said. It is considered as the highest foreign direct investment Sri Lanka received in the history. The Hong Kong-based company's representative in Sri Lanka handed over the check for approximately US$ 584.2 million to the Sri Lanka Port Authority Chairman Dr Parakrama Dissanayake Wednesday. The first installment of US$ 292.1 million of the payment ...

National interest in front and centre when negotiating FTAs: Malik

21May

By Faraz ShauketalyNo Comments

Business, Main Story

National interest in front and centre when negotiating FTAs: Malik

Dismissing criticism, Development Strategies and International Trade Minister Malik Samarawickrama last week emphasised that the Government had put national interest “front and centre” when negotiating Free Trade Agreements. “Despite what you may hear in the news from the detractors of the agreement, we kept national interests and the interests of our domestic stakeholders front and centre when negotiating the agreement,” Minister Samarawickrama said with reference to the FTA signed with Singapore earlier this year. “We believe it is a good agreement that will strengthen our country’s economic prospects, not hurt it. We are well aware that some of the professionals are only interested in looking after themselves and not in improving the living standards of our people,” the Minister s...

China nod for $1.1 b Central Expressway loan

15May

By Faraz ShauketalyNo Comments

Business, Main Story

China nod for $1.1 b Central Expressway loan

China’s Ambassador Cheng Xueyuan during a meeting with Prime Minister Ranil Wickeremesinghe yesterday has assured the Chinese Government had approved the $1.1 billion loan for the construction of the first phase of the Central Expressway, the Prime Minister’s Office said. The statement was issued following reports that loan disbursement had been held up, despite the expressway being in the works for the better part of two years and being one of the flagship projects of this Government. The loan was obtained from the China Exim Bank. “The Chinese Ambassador to Sri Lanka met Prime Minister Ranil Wickeremesinghe to break the good news of the Chinese Government approving $1 billion for phase I of the Central Expressway construction. Instructions have been given to Chinese EXIM Bank to proce...

President looks to China for Sri Lanka’s economic development

14May

By Faraz ShauketalyNo Comments

Business

President looks to China for Sri Lanka’s economic development

President Maithripala Sirisena said China's continuous support is indispensable for Sri Lanka to realize its future development and make itself a new economic center of the Indian Ocean Region. President Sirisena has said that his objective is to attract more investment and assistance from China for Sri Lanka's economic development as well as its people's livelihood. The President has expressed these views when Ambassador of China, Cheng Xueyuan recently called upon President Sirisena at the President's Official Residence to exchange views on China-Sri Lanka relations and joint construction of the Belt and Road Initiative. President Sirisena, stressing that the friendship between the two countries dates back to ancient times has highly appreciated the tremendous assistance provide...

China dispels ‘baseless suspicion’ on Chinese militarization of Sri Lanka’s Hambantota Port

24Apr

By Faraz ShauketalyNo Comments

Business, Main Story

China dispels ‘baseless suspicion’ on Chinese militarization of Sri Lanka’s Hambantota Port

China Mondayrejected the rumors of 'Chinese Militarization' at the Hambantota Port of Sri Lanka as 'baseless suspicion'. Ambassador of China to Colombo, Cheng Xueyuan, dispelled the rumors that China's Belt and Road initiative aims to use Sri Lanka's Chinese-built port in the Deep South for military purposes. Ambassador Cheng made this assertion when he called on the Prime Minister Ranil Wickremesinghe on Friday (20 April) to exchange views on joint construction of the Belt and Road Initiative including the Hambantota Port. Responding to recent baseless suspicion on so-called Chinese militarization at Hambantota Port, Ambassador Cheng pointed out that there is no any military purpose for China to conduct friendly and pragmatic cooperation with Sri Lanka. "China never interferes...

China warns Sri Lanka over attempts to sour relationship

23Apr

By Faraz ShauketalyNo Comments

LOCAL

China warns Sri Lanka over attempts to sour relationship

China has warned Sri Lanka over attempts to sour the relationship between both countries. The Chinese Ambassador to Sri Lanka, Cheng Xueyuan said that there are baseless claims being made that the Hambantota Port might be used for military purposes. “China and Sri Lanka should keep vigilant against such kind of rumors, and strengthen communication and coordination so as to prevent the China-Sri Lankan relations and cooperation from being disturbed or damaged,” the Chinese Embassy in Colombo quoted the Ambassador as saying. The Chinese Ambassador had expressed this view at separate meetings he had with Prime Minister Ranil Wickremesinghe and Navy Commander, Vice Admiral Sirimevan Ranasinghe. During his meeting with the Prime Minister, Ambassador Cheng said that China attache...

Japanese naval ship Akebono arrives at Sri Lanka’s Port of Hambantota

11Apr

By Faraz ShauketalyNo Comments

LOCAL

Japanese naval ship Akebono arrives at Sri Lanka’s Port of Hambantota

Sri Lanka Navy, in accordance with naval traditions, welcomed Japanese Maritime Self Defense Force (JMSDF) ship Akebono arrived at the Port of Hambantota yesterday on a goodwill visit. Commander Southern Naval Area, Rear Admiral Kapila Samaraweera, Director Naval Operations, Commodore Sanjeewa Dias along with a group of officers attached to the Southern Naval Command, Coast Guard and Air Force made an inspection visit on-board Akebono and subsequently took part in a conference on Search and Rescue held aboard ship, the Navy media unit said. The Commanding Officer of the Murasame class destroyer, Commander Yuichi Haeno called on Commander Southern Naval Area, Rear Admiral Kapila Samaraweera and shared views on matters of professional interest. JS Akebono is due to set sail for ...