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20 January 2018 The on-line newspaper devoted to the world of transports 22:10 GMT+1



December 11, 2017

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Original news
The CMPort Chinese has signed an additional contract of concession for the port of Hambantota

The group will invest until 1,12 billion dollars in the cingalese port of call

Past friday the Chinese Lowers Merchants Port Holdings Co. (CMPort), the government Sri Lankan, Sri Lanka Ports Authority (LSPA) and its two society integrally controlled Hambantota International Port Group (HIPG) and Hambantota International Port Services (HIPS) have undersigned an additional contract of concession that amends some clauses of the contract of concession for the management of the cingalese port of Hambantota that the parts had signed 29th July(on 25 July 2017).

The modifications to the original contract are constituted essentially by the variation of the terms of payment of the sum that the Chinese company will pour to the SLPA in order to acquire 85% of the capital of the HIPG, than in its turn will use part of the figure in order to buy 58% of the capital of the HIPS.

Moreover it is established that the Chinese group will invest until USA 1,12 billion dollars in the port of Hambantota and the correlated activities. In particular, part of the investment of China Merchants Port Holdings pairs to 973,7 million dollars will be corresponded for the acquisition of 85% of the HIPG in three tranche, of which before the value of 292,1 million dollars.


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