Hambantota International Port
The Hambantota International Port is a deep water port in Hambantota, Sri Lanka, notable for its 99-year lease to China Merchant Ports. Opened in 2010, it is Sri Lanka's second largest port, after Colombo. In 2020, the port handled 1.8 million tonnes of cargo.
| Hambantota International Port | |
|---|---|
The port in 2013 | |
Click on the map for a fullscreen view | |
| Location | |
| Country | Sri Lanka |
| Location | Hambantota |
| Coordinates | 06°07′10″N 81°06′29″E |
| UN/LOCODE | LKHBA |
| Details | |
| Opened | November 18, 2010 |
| Operated by | China Merchants Port, Sri Lanka Port Authority |
| No. of berths | 3 |
| Draft depth | 17.0 m. |
| IATA | HBT |
| Statistics | |
| Website www | |
Construction of the port commenced in January 2008. In 2016, it reported an operating profit of $1.81 million but was considered economically unviable. As debt repayment got difficult, the newly-elected government decided to privatise an 80% stake of the port to raise foreign exchange in order to repay maturing sovereign bonds unrelated to the port. Of the two bidding companies, China Merchants Port was chosen, which was to pay $1.12 billion to Sri Lanka and spend additional amounts to develop the port into full operation.
In July 2017, the agreement was signed, but CMPort was allowed a 70% stake. Simultaneously a 99-year lease on the port was granted to CMPort.