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President off to China on official visit
Sunday, 25 February 2007 - 5:58 AM SL Time
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President Mahinda Rajapakse who begins his five-day official visit to China this week is expected to discuss technical and financial assistance for the Hambantota Port Development Project from the Chinese government, official sources said.
This gigantic project, estimated to cost to Rs. 30.9 billion million it calls for, is expected to be completed by 2011.
It requires completion of three vital components - the breakwater project, the industrial port and the bunkering facility, the sources said.
Treasury Secretary, Dr. P. B. Jayasundera, had earlier informed the media that the commercial contract between the Sri Lanka Ports Authority and Chinese partners had already been finalized, expressing hope that the signing of the deal could take place in China during the President`s visit.
Hambantota has the potential of being expanded into a major transshipment port, given its location within ten nautical miles from the world`s busiest shipping line. This expansion could also see the fruition of other periphery projects which could contribute to the overall development of the area.
Both China and Japan had expressed willingness to fund major infrastructure projects in Sri Lanka, with Japan already announcing provision of 392.3 million Japanese Yen to the Greater Colombo Urban Transport Development Project, Water Sector Development Project and Pro-poor rural development project. The World Bank and the Asian Development Bank are also expected to provide funds of a similar magnitude, the sources said.
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mareesa03
Joined: Oct 2006
Posts: 639
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25 Feb 2007 12:11:27 GMT Report for Abuse
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President off to China on official visit
Helping Ham'tota, with the help of China is worth of 30.9 billion..
Mahinda & Bros. wanted the Ham'tota,to be another Singapore..
But in North and East people are dying without food and shelter...
For Ham'tota... 30.9 Billion
for North and East..Multi-barrel gun...
What a great 'Chindana'' |
BABA
Joined: May 2006
Posts: 2679
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25 Feb 2007 16:23:39 GMT Report for Abuse
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China is Srilanka's historical friend.The biggest Buddhist country in the world with the biggest army and the future richest economy in the world assists always Srilanka in any crisis.
Edited By - BABA - 26 Feb 2007 08:07:06 GMT |
Imperator
Joined: Nov 2006
Posts: 1382
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26 Feb 2007 00:23:43 GMT Report for Abuse
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| This is great news. China's president recently wrapped up a marathon tour of Africa. He'll be pleased to note that Mahinda Puthraya is visiting him in person, with an elephant as a gift, no less! |
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