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Sri Lanka to lease Hambantota Port to Chinese company

Sri Lanka’s Prime Minister Ranil Wickremensighe has outlined plans to lease large stake in the Hambantota port to a Chinese Company reports Colombo Page.
The Prime Minister said that the government planned to lease the Hambantota port or $US 1.2 billion to a Chinese company China Merchant, in an attempt to aid in Sri Lanka’s Balance of Payments.
Addressing concerns that the port would be sold to a Chinese company, Mr Wickremesinghe added,
“I also want to address the claims with regards to Hambantota made by the Daily FT. I assure you that we are not, and cannot, sell the Port. What we do have, is a harbor on which we must start paying the interest and servicing the Nation's debt, which amounts to US$ 1.3 million," the Prime Minister said.”
Speaking at a business award ceremony in Sri Lanka, Mr Wickremasinghe added that , “Our goal is that our market economy will no longer be 22 million, but mid next year, to reach 3 billion. To do this, we need to be competitive and gradually open up our markets, while carrying out our numerous development projects.”

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