sri lanka,India,Hambantota port,China

Sri Lanka did not accept China’s talk, stop the installment of $ 58.5 million.

# Headlines Finance World

Colombo, Due to objections to China’s plan, has stopped the last installment of Sri Lanka from the $ 585 million, or nearly Rs 4,000 crore, that is available under the Hambantota port deal. China wanted to use this harbor for recreational purposes, which Sri Lanka had opposed. This has been said in a media report.

In December last year, Sri Lanka had leased the southern port of Hambantota to China for 99 years for control of 1.12 billion dollars. Opposition leaders had opposed the deal and accused the sale of the port. The Sunday Times report says that the last installment of the $ 58.5 million deal is to be given by Chinese company China Merchants Port Holdings, who wants to use this land for entertainment sponsorship.

However, the Sri Lanka Port Authority emphasized that the facilities available at Hambantota Port can only be used in marine and port related activities. It can not be used for entertainment and tourism purposes. The Chinese company said that money will be transferred only after the matter has been resolved.