Sri Lanka Central Bank confirms credit of USD 292.1Mn from CM Port

Dec 26, 2017 (LBO) - Sri Lanka's Central Bank said that it had received the first payment from China Merchant Port Holdings (CMPort) for the management of the Hambantota Port. Following an agreement between the Sri Lanka Ports Authority and the China Merchant Port Holdings Ltd., US  292.1 million dollars has been credited to the US dollar account of the Government of Sri Lanka, the bank said issuing a statement. The government through a public-private partnership (PPP), with the Sri Lanka Ports Authority (SLPA)  handed over  on 9 December the Hambantota Port to a joint venture company floated by CMPort and SLPA. The investment value of the whole programme will be US 1.12 billion dollars by CMPort. The balance payment will be received within six months.