China Merchants makes final Hambantota payment

China Merchant Port Holdings Limited (CM Port) has made a third and final payment of US$585m for the concession of Sri Lanka’s Port of Hambantota.

Combined with the previous two payments, CM Port has invested US$976m to manage, operate and develop the facility. As per the concession agreement, the Hong Kong-based operator will invest a further US$146m into port and marine related activity.

The Sri Lankan Ports Authority (SLPA) and CM Port entered into a concession agreement last July, and CM Port made the first two payments in December 2017 and January 2018.