The Hambantota Port[1] (also known as the Port of Hambantota) is a

maritime port in Hambantota, Sri Lanka. The first phase of the port was opened on 18 November
2010, with the first ceremonial berthing of the naval ship "Jetliner" to use the port facilities. It is
named after former President Mahinda Rajapaksa.[2][3] Hambantota Port is built inland and
operated by the Sri Lanka Ports Authority.[4]Total estimated construction cost of the Phase 1 of
the project is US $361 million and out of which, 85% has been funded by the EXIM Bank of the
People's Republic of China.[5]
Construction of the port began in January 2008. It will be Sri Lanka’s largest port, after the Port of
Colombo. The Port of Hambantota will serve ships travelling along the east-west shipping
route which passes six to ten nautical miles (19 km) south of Hambantota. The first phase of the
port project will provide bunkering, ship repair, ship building, and crew change facilities.[6] Later
phases will raise capacity of the port up to 20 million TEUs per year. When completed, it is
claimed it will be the biggest port constructed on land to date in the 21st century. [7]
However the port incurred heavy losses making debt repayment an issue as a result in 2016 it
was proposed to lease 80% in a debt-for-equity swap to the China Merchants Ports holding
company, who will invest 1.12 billion USD to revive the port under a public–private partnership.[8][9]
[10][11]
Later it was decided that under the agreement CMPorts will divest 20% of its shares to a Sri
Lankan company within ten years. CMPort will have to spend at least US$ 700-800 million or
more to bring the port to operational level.[12]. In 2017 July, the agreement was signed leasing
70% of the Port to CMPort instead of the initially proposed 80%. [13]