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Sri Lanka to review India's investment proposal for 70% equity of Mattala international airport

Sri Lanka is to review an US$ 205 million Indian investment proposal to operate Sri Lanka’s second international airport in the southern town of Mattala, reports The Hindu.

The Sri Lanka government gave clearance to its Civil Aviation Minister Nimal Sri Pala de Silva to set up a committee to study the Indian government’s proposal. India proposes to “operate, manage, maintain and develop” the airport and hold 70% equity for 40 years, in a US $205 million investment.

If the proposal is accepted Sri Lanka would contribute USD $88 million and receive 30% equity of the airport.