Colombo:
The Chinese-constructed strategic southern port of Hambantota in Sri Lanka is set to grow to be completely functional as a multi-objective port by the next year, a major official of the firm constructing it mentioned on Monday.
Located ten nautical miles from the international shipping route linking the Far East with the West, Hambantota Port is Sri Lanka’s most diversified deep-water, multi-objective port. It presents a complete variety of services for the shipping business, with a focus on new technologies and environmentally sustainable practices, in maintaining with the newest advances in the maritime sector.
The port has terrific possible in power services due to its place in the Indian Ocean rim, exactly where 50 per cent of the world’s maritime oil is traded. The port’s LPG and future LNG operations are sure to cement its position as an power hub in the area.
“As Hambantota port is working towards being a fully functional multi-purpose port by next year, we are gearing at all levels, which includes continuous training and testing our systems for optimum efficiency which is part of the DNA of all China Merchants Port Holdings (CMPort) operations across the globe,” mentioned Lance Zuo, General Manager, Commercial and Marketing, Hambantota International Port Group (HIPG).
“HIPG responded very well to the challenges during the lockdown, and today we can say that our unique selling proposition is the efficiency of the port. This comes from a responsive workforce at all levels of the operation and best equipment being used to assist the smooth running of it,” the official mentioned in a statement.
HIPG is a joint venture amongst the Sri Lanka Ports Authority and the Chinese state-owned China Merchants Port Holdings.
In 2016, the Sri Lankan government decided to privatise an 80 per cent stake of the port to raise foreign exchange. CMPort paid USD 1.12 billion to revive the port below a public-private partnership. During the 1st half of 2021, the port has recorded general development in its volumes and diversification of services.
“The port’s overall cargo handling volume has increased from 420,421 MT by end June 2020, to a significant 1,206,425 MT, during the corresponding period this year. HIPG continued its operations without interruption throughout the pandemic and is now seeing the results of experienced port management combined with the dedicated services provided to their customers,” the firm mentioned.
China is one of the most significant investors in different infrastructure projects in Sri Lanka. But there has been criticism, each locally and internationally, and expanding issues that China has lured Sri Lanka into a debt trap.
Sri Lankan President Gotabaya Rajapaksa, on the other hand, has rejected issues that China has lured Sri Lanka into a debt trap by financing the Hambantota Port and mentioned the project has a vast possible for creating revenue and employment possibilities.
The 99-year lease of the Hambantota port to China has raised red flags about the downside of China’s multi-billion Belt and Road Initiative.
Struggling to spend back more than USD 8 billion-dollar Chinese loans and investments, the preceding Sri Lankan government has handed more than the majority share of the Hambantota port to the Chinese state-owned firm on a 99-year lease to raise USD 1.2 billion.
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