CB receives first payment from Chinese Company on Hambantota Port operations

(COLOMBO, LANKAPUVATH) –The first payment of USD 292.1 million from China Merchant Port Holdings (CMPort) Co. Ltd for the handing over of operations of the Hambantota Port has been credited to the US Dollar account of the Government of Sri Lanka maintained at the Central Bank, states a press release from the International Operations Department of the Central Bank yesterday.
The Port was handed over to the Chinese company on 9th December, where Prime Minister Ranil Wickremesinghe was given a cheque of USD 292,097, 400 million as an advance payment.
The Government in November decided to amend the clauses of the Hambantota Framework Agreement between CMPort, Sri Lanka Ports Authority (SLPA), Government of Sri Lanka, CMPort, Hambantota International Port Group (Pvt) Ltd, and Hambantota International Port Services Company (Pvt) Ltd to fast track the scheduled payments from the deal.
The new agreement stated that “30 percent would be paid on the date of signing, 10 percent after a month since signing and to pay the remaining 60 percent within six months of signing”.
The Government signed the Framework Agreement with CMPort for USD 1.12 billion.

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