Sri Lanka set to sell Hambantota port to Chinese after revised deal
Sri Lanka is set to sell a majority stake in its ‘remote’ Hambantota port to a Chinese company after agreeing on a revised deal to pacify India’s concerns, reports the Financial Times.
With nearly all government revenue currently going to debt servicing, the port is being sold as part of Sri Lanka’s strategy to pay down some of its debt, estimated to be around $65bn (USD), including $8bn to China.
