$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.

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