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China offers to invest in Hambantota’s ship repair yard

China offers to invest in Hambantota’s ship repair yard
The Sri Lankan prime minister has urged the government to consider letting China invest in a ship repair yard at Hambantota port, reports said.

Prime minister Ranil Wickremesinghe told the parliament on Wednesday that China has offered to help establish the ship repair facility, and subsequently placing Chinese engineers to work at the yard at least for five years, local media reported.

The Sri Lankan government should be open to the idea, according to Wickremesinghe.

The ongoing construction of Hambantota port is jointly funded by the Export-Import Bank of China and the Sri Lanka Ports Authority (SLPA).

The port, designated as a tax-free port zone, would boast shipbuilding, ship repair, bunkering, and warehousing facilities.