$50 Billion Investment to Build Shipping Port in Hambantota

port in Hambantota Sri LankaChinese and international investors are promising to spend an unbelievable $50 billion USD over the next 10 years, to develope an international port city; in Hambantota.

Ms Song Jianhua, Chairwoman of Sino-Sri Lanka Rich Investment (SSLRI), led a 13-member Chinese business group, comprised of powerful, industry leaders in fertilizer, port development, energy, petro-chemistry, cement, and machinery, to clarify that the $50 billion investment value; is no misnomer.

I am happy to inform you that this is not a sole Chinese entry-in fact it is a multinational effort in which investors from Singapore, Hong Kong and US are also joining the Chinese investors as lead investors. The main Chinese investors represent manufacturing and logistic sectors. But I should stress that the project timeline will also depend on the speed of approval.” said Ms Song Jianhua.

So far, Sri Lanka has been able to secure $1 billion in foreign direct investments, and is aiming at $2 billion; for this year. The project also has the support of international investment/financial institutions, and additional investments have been promised, after the port city is established; which will include real estate, black tea and jewellery.

One thought on “$50 Billion Investment to Build Shipping Port in Hambantota

  1. Pacific Tycoon

    Since being hit hard by a tsunami in 2004, the region has undertaken some major redevelopments with the help of investors, from around the globe. Much of the investment money has gone toward developing and improving the region’s infrastructure and facilities, so that Hambantota can accommodate the increasing demands of the international shipping industry.

    Reply

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