Hambantota Port project begins in June

Port project: The construction of phase one of the Hambantota Port Development Project will commence in June this year. Land allocation for the project has already been done.

The investment for the first phase would be US$450 million and the contract agreements for this were signed between the Consortium of China Harbour Engineering Company Limited and Syno Hydro Corporation Limited of People’s Republic of China and the Sri Lanka Ports Authority (SLPA) recently.

The project once completed, would generate 6,000 direct and 50,000 indirect employment opportunities locally. An industrial port with a 1,000m jetty and an oil refinery estimated to cost US$1 billion will be constructed at Hambantota under first phase. There would also be a power generation plant and a free trade zone.

Hambantota Port Development Project consists of four stages. The whole project is expected to be completed within 15 years. (SS)