News

Cabinet approves signing of share ownership agreement on Hambantota Port

7 December 2017 - 264   - 0

The Cabinet has  approved the signing of an agreement of share ownership before commencing operations in the Hambanthota Port.

On July 29, the amended agreement to expand and develop the Hambantota Port under a public-private partnership was signed between the Sri Lanka Ports Authority (SLPA) and China Merchant Port Holdings (SM Port), Hambantota International Port Group (HIPG) and Hambantota International Port Services (HIPS). 

Accordingly, the two companies established to develop the port, namely Hambantota International Port Group (HIPG) and Hambantota International Port Services (HIPS), are scheduled to commence respective operations, according to the said agreement, on December 09, 2017. 

As per the agreement, 85% of the shares of Hambantota International Port Group will be held by China Merchants Port Holdings Company Limited or any of its subsidiaries while 15% will be held by the state-owned SLPA. 

Meanwhile 58% of the shares of the Hambantota International Port Services will be controlled by HIPG while 42% will go to the SLPA, the government newes portal reported.

  Comments - 0

  • Leave a comment

Top Stories

MFA urge to share details of missing persons with OMP

The Ministry of Foreign Affairs urged anyone in Sri Lanka or overseas to kindly share the details pertaining to persons whose names have been liste...

20 June 2018 - Views : 25

Sathyagraha calling for Gnanasara Thera's release held in Naththandiya

20 June 2018

Wildlife officer killed in wild elephant attack

20 June 2018

Parliament Road closed due to protest

20 June 2018



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

At a glance: Different Voices

 ‘The Voice’ headed by Ishan De Lanerolle recently staged the second edition of their concert &lsquo...

Hindi courses for children and adults

Swami Vivekananda Cultural Centre (Indian Cultural Centre) is announcing admission to new session of Hindi cours...

Get ready for the Big Bad Wolf Book sale this month

The Big Bad Wolf (BBW) book sale has made its return early this year, following the highly enthusiastic response from...

Work space cum cafe at Café Sociale

 Café Sociale, a café cum working space that is also pet-friendly boasts a curated space and an ec...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">