Lankan Ranger
ELITE MEMBER
- Joined
- Aug 9, 2009
- Messages
- 12,550
- Reaction score
- 0
TATA Nano car plant in Hambantota Development Zone
Sri Lanka looks to India for Phase II of port China built
- Thread starter Justin Joseph
- Start date
TATA Nano car plant in Hambantota Development Zone
ARCHON
SENIOR MEMBER
- Joined
- Mar 4, 2010
- Messages
- 1,672
- Reaction score
- 0
China To Fund Second Phase of Hambantota Port - Jun 11th, 2010
China Begins 2nd phase work on Hambantota port -Jun 12th, 2010, 2 months ago.
Sri Lanka looks to India for Phase II of port China built- Today
Yes Srilankan... big joke indeed. Thanks for the entertainment.
Let me laugh loud.
China Begins 2nd phase work on Hambantota port -Jun 12th, 2010, 2 months ago.
Sri Lanka looks to India for Phase II of port China built- Today
Yes Srilankan... big joke indeed. Thanks for the entertainment.
Let me laugh loud.
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Sri Lanka pins hopes on China-funded port, as India watchesThu, Aug 12, 2010 AFP
HAMBANTOTA, Sri Lanka, Aug 12 (AFP) - Sri Lanka is preparing to open the first phase of a China-funded, $1.5-billion ($2.04 billion) port project that has fuelled Indian concerns over strategic Chinese investment in South Asia.
Sitting along the ancient "Silk Road" trading route and one of the world's busiest shipping lanes, the Hambantota port is intended to be the engine that will drive Sri Lanka's economic recovery after decades of ethnic conflict.
Partly funded by a soft Chinese loan of $300 million, the first phase of the deep-sea port is scheduled to open in November.
The government hopes that by the time the second phase is completed in 2014, the port on the island's southern tip will have become a magnet for foreign investment in transshipment and spin-off business opportunities.
Sri Lanka Ports Authority chairman Priyath Wickrama said Hambantota would initially aim to service around 2,500 of the 70,000 cargo ships that ply the East-West sea lane every year.
"In about 10 years, with the second phase coming on stream, we aim to handle about 8,000 ships a year," he said.
Sri Lanka's neighbour and biggest trading partner, India, is believed to be concerned that Hambantota is part of a Chinese policy to throw a "string of pearls" geographical circle of influence around India.
China is also developing port facilities in Bangladesh, Myanmar and Pakistan, and has plans for rail projects in Nepal.
"Indian threat perceptions have grown as China has become more active in South Asia," said Eurasia Group's Asia analyst, Maria Kuusisto.
"New Delhi sees this Chinese manoeuvering as an incursion into its historic sphere of influence, and is consequently trying to outbid the Chinese for strategically important infrastructure projects," she said.
Last year, China overtook Japan as Sri Lanka's biggest lender, providing 1.2 billion dollars in loans.
And China has emerged as the partner of choice for big projects in Hambantota, including a new airport, railway, roads and a conference hall.
"The berths for cargo and oil are coming up nicely and the port will handle its first ship mid-November," Wickrama told AFP during an inspection tour of the port, some 240 kilometers (150 miles) south of the capital Colombo.
Colombo is currently Sri Lanka's main port, handing more than 6,000 ships a year.
Some 30 investors from China, Singapore, India, the Middle East and major shipping lines have already sent in investment proposals for Hambantota that range from ship building, cement grinding and fertiliser bagging to warehousing and vehicle transshipment.
Investors can lease land, enter into an equity-sharing joint venture with the Ports Authority or pay royalties, Wickrama said. However, the lucrative business of bunkering - supplying ship fuel - is closed to private investment.
"We don't want to give bunkering to outsiders," Wickrama said. Sri Lanka's bunkering market is estimated at some 300,000 tonnes a year, according to private equity firm JB Stockbrokers.
"Ships travel from East India and Australia to the African continent. Their route does not pass through key bunkering ports such as Dubai and Singapore, so Hambantota port is ideally placed to tap that market," the broking firm said.
The first phase includes two berths each for oil and cargo, while another five cargo berths will be added in the second phase.
Chamal Rajapakse, who is speaker of parliament and President Mahinda Rajapakse's elder brother, rejected any suggestion that Chinese involvement in Hambantota had an ulterior motive.
"Our relations with China for Hambantota are purely commercial," Chamal Rajapakse said.
"China gave us the best commercial rates. We offered the port to India before, but they didn't respond," he added.
Nevertheless, Indian analysts say New Delhi will closely monitor the port's development for any usage by China that could be deemed detrimental to India's security interests.
"Although China and Sri Lanka claim that this is merely a commercial venture, its future utility as a strategic asset for China cannot be ruled out," said R.N. Das, a senior fellow at India's Institute for Defence Studies and Analyses.
HAMBANTOTA, Sri Lanka, Aug 12 (AFP) - Sri Lanka is preparing to open the first phase of a China-funded, $1.5-billion ($2.04 billion) port project that has fuelled Indian concerns over strategic Chinese investment in South Asia.
Sitting along the ancient "Silk Road" trading route and one of the world's busiest shipping lanes, the Hambantota port is intended to be the engine that will drive Sri Lanka's economic recovery after decades of ethnic conflict.
Partly funded by a soft Chinese loan of $300 million, the first phase of the deep-sea port is scheduled to open in November.
The government hopes that by the time the second phase is completed in 2014, the port on the island's southern tip will have become a magnet for foreign investment in transshipment and spin-off business opportunities.
Sri Lanka Ports Authority chairman Priyath Wickrama said Hambantota would initially aim to service around 2,500 of the 70,000 cargo ships that ply the East-West sea lane every year.
"In about 10 years, with the second phase coming on stream, we aim to handle about 8,000 ships a year," he said.
Sri Lanka's neighbour and biggest trading partner, India, is believed to be concerned that Hambantota is part of a Chinese policy to throw a "string of pearls" geographical circle of influence around India.
China is also developing port facilities in Bangladesh, Myanmar and Pakistan, and has plans for rail projects in Nepal.
"Indian threat perceptions have grown as China has become more active in South Asia," said Eurasia Group's Asia analyst, Maria Kuusisto.
"New Delhi sees this Chinese manoeuvering as an incursion into its historic sphere of influence, and is consequently trying to outbid the Chinese for strategically important infrastructure projects," she said.
Last year, China overtook Japan as Sri Lanka's biggest lender, providing 1.2 billion dollars in loans.
And China has emerged as the partner of choice for big projects in Hambantota, including a new airport, railway, roads and a conference hall.
"The berths for cargo and oil are coming up nicely and the port will handle its first ship mid-November," Wickrama told AFP during an inspection tour of the port, some 240 kilometers (150 miles) south of the capital Colombo.
Colombo is currently Sri Lanka's main port, handing more than 6,000 ships a year.
Some 30 investors from China, Singapore, India, the Middle East and major shipping lines have already sent in investment proposals for Hambantota that range from ship building, cement grinding and fertiliser bagging to warehousing and vehicle transshipment.
Investors can lease land, enter into an equity-sharing joint venture with the Ports Authority or pay royalties, Wickrama said. However, the lucrative business of bunkering - supplying ship fuel - is closed to private investment.
"We don't want to give bunkering to outsiders," Wickrama said. Sri Lanka's bunkering market is estimated at some 300,000 tonnes a year, according to private equity firm JB Stockbrokers.
"Ships travel from East India and Australia to the African continent. Their route does not pass through key bunkering ports such as Dubai and Singapore, so Hambantota port is ideally placed to tap that market," the broking firm said.
The first phase includes two berths each for oil and cargo, while another five cargo berths will be added in the second phase.
Chamal Rajapakse, who is speaker of parliament and President Mahinda Rajapakse's elder brother, rejected any suggestion that Chinese involvement in Hambantota had an ulterior motive.
"Our relations with China for Hambantota are purely commercial," Chamal Rajapakse said.
"China gave us the best commercial rates. We offered the port to India before, but they didn't respond," he added.
Nevertheless, Indian analysts say New Delhi will closely monitor the port's development for any usage by China that could be deemed detrimental to India's security interests.
"Although China and Sri Lanka claim that this is merely a commercial venture, its future utility as a strategic asset for China cannot be ruled out," said R.N. Das, a senior fellow at India's Institute for Defence Studies and Analyses.
Lankan Ranger
ELITE MEMBER
- Joined
- Aug 9, 2009
- Messages
- 12,550
- Reaction score
- 0
Lankan Ranger
ELITE MEMBER
- Joined
- Aug 9, 2009
- Messages
- 12,550
- Reaction score
- 0
Last edited by a moderator:
ARCHON
SENIOR MEMBER
- Joined
- Mar 4, 2010
- Messages
- 1,672
- Reaction score
- 0
Sri Lanka opens $1.5 bln port to outside investors
Sri Lanka opens $1.5 bln port to outside investors | Energy & Oil | Reuters
* Aims to attract at least 2,500 ships/year initially
* Sri Lanka mulls $800 mln Chinese loan for phase 2
* Oil bunkering operation not open for investment
By Shihar Aneez
HAMBANTOTA, Sri Lanka, Aug 1 (Reuters) - Sri Lanka on Sunday
said it would invite outside investors into its $1.5 billion
Hambantota port project, the keystone of a $6 billion post-war
infrastructure revitalisation drive.
The invitation for external investment will coincide with
the November opening of the port on Sri Lanka's southern coast,
along an ancient "Silk Road" trading route and one of the
world's biggest East-West shipping lanes.
The port and its accompanying services represent the single
largest investment option for foreign investors in Sri Lanka,
which is aiming to transform its economy after finally ending a
quarter-century separatist war in May 2009.
One option that is not on the table for outside investors is
the oil bunkering facility. Many have speculated China wants the
right to use the site as part of its "string of pearls" strategy
to expand its influence and maintain energy security.
"We will handle oil bunkering. We don't want to give it
outside. But bulk cargo handling, storage facility, warehouses,
transshipment, and all others are open for investments," Sri
Lanka Ports Authority Chairman Priyath Wickrama told Reuters.
About 30 investors -- primarily from India, China,
Singapore, Russia, the Middle East, Australia and major shipping
lines -- have expressed interest, Wickrama said. He did not
elaborate further.
Sri Lanka opens $1.5 bln port to outside investors | Energy & Oil | Reuters
* Aims to attract at least 2,500 ships/year initially
* Sri Lanka mulls $800 mln Chinese loan for phase 2
* Oil bunkering operation not open for investment
By Shihar Aneez
HAMBANTOTA, Sri Lanka, Aug 1 (Reuters) - Sri Lanka on Sunday
said it would invite outside investors into its $1.5 billion
Hambantota port project, the keystone of a $6 billion post-war
infrastructure revitalisation drive.
The invitation for external investment will coincide with
the November opening of the port on Sri Lanka's southern coast,
along an ancient "Silk Road" trading route and one of the
world's biggest East-West shipping lanes.
The port and its accompanying services represent the single
largest investment option for foreign investors in Sri Lanka,
which is aiming to transform its economy after finally ending a
quarter-century separatist war in May 2009.
One option that is not on the table for outside investors is
the oil bunkering facility. Many have speculated China wants the
right to use the site as part of its "string of pearls" strategy
to expand its influence and maintain energy security.
"We will handle oil bunkering. We don't want to give it
outside. But bulk cargo handling, storage facility, warehouses,
transshipment, and all others are open for investments," Sri
Lanka Ports Authority Chairman Priyath Wickrama told Reuters.
About 30 investors -- primarily from India, China,
Singapore, Russia, the Middle East, Australia and major shipping
lines -- have expressed interest, Wickrama said. He did not
elaborate further.
CardSharp
ELITE MEMBER
- Joined
- Apr 17, 2010
- Messages
- 9,355
- Reaction score
- 0
China To Fund Second Phase of Hambantota Port - Jun 11th, 2010
China Begins 2nd phase work on Hambantota port -Jun 12th, 2010, 2 months ago.
Sri Lanka looks to India for Phase II of port China built- Today
Yes Srilankan... big joke indeed. Thanks for the entertainment.
Let me laugh loud.
The Indian article is full of weasel words to make it seems like India is fund the development of the second phase when it just simple didn't.
Weasel word - Wikipedia, the free encyclopedia
The author is trying to stretch India's investment in other parts of the project into an impression that India is paying for the whole thing. This is shoddy and deceitful journalism that would even get challenged by Wikipedia editors never mind real news editors in other countries.
Last edited:
ARCHON
SENIOR MEMBER
- Joined
- Mar 4, 2010
- Messages
- 1,672
- Reaction score
- 0
As if it was the first time you are hearing about an Indian investment in Srilanka, Weasel.
Lankan Ranger
ELITE MEMBER
- Joined
- Aug 9, 2009
- Messages
- 12,550
- Reaction score
- 0
China’s Investment in Sri Lanka already reached USD$ 15 Billion
Lankan Ranger
ELITE MEMBER
- Joined
- Aug 9, 2009
- Messages
- 12,550
- Reaction score
- 0
See the official video released by the Chinese Company
Last edited by a moderator:
CardSharp
ELITE MEMBER
- Joined
- Apr 17, 2010
- Messages
- 9,355
- Reaction score
- 0
ARCHON
SENIOR MEMBER
- Joined
- Mar 4, 2010
- Messages
- 1,672
- Reaction score
- 0
Did i say more than China
Just complete the questionnaire
i speak speak/understand English.
[ ] Yes
[ ] No
As for the source, here is the official High commissioner site from Colombo ( capital of srilanka for ur information)
High Commission of India, Colombo
CardSharp
ELITE MEMBER
- Joined
- Apr 17, 2010
- Messages
- 9,355
- Reaction score
- 0
So that's a no. Thanks.
Similar threads
