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Sri Lanka's Hambantota port seeks foreign investment

Colombo: Sri Lanka Ports Authority has invited overseas investors to participate in tenders for a variety of projects to develop its port of Hambantota. "Bulk cargo handling, storage facility, warehouses, transhipment and all others are open for investments. But we will handle oil bunkering. We don't want to give it outside," Sri Lanka Ports Authority (SLPA) Chairman Priyath Wickrama told Reuters.

The port is also reported to be in negotiations with the Chinese government to secure additional funds (in the region of $800m) for phase two of development at the port. This follows on from the previous agreement that saw the Chinese government put up 85% of the $76.5m cost for a bunkering terminal at the port, with SLPA funding the remainder.  [02/08/10]

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