The government had given the green light for the Joint Venture formed by the Sri Lanka Ports Authority (SLPA) and China Merchants Group to start up several projects in Hambantota, Prime Minister Ranil Wickremesinghe said yesterday.
The Prime Minister said this during an election rally in Nikaweratiya last morning.
“The new company, formed by the SLPA and China Merchants Group, wants to set up an oil refinery, a dockyard, a steel factory. We have told the company to go-ahead,” the Prime Minister said.
“We did this as we saw no reason to stop them.”
He said US Dollars 600 million would be invested in these projects.
The Premier recalled that a Private-Public company had to be formed to run the Hambantota Port in order to find ways and means to settle the loans obtained for the construction of the Hambantota Port.
The Prime Minister said the total debt for the Port was USD 1, 200 million.