Sri Lanka formally hands over Hambantota Port to China for 99-Year Lease
December 13th, 2017
Sri Lanka formally handed over its southern strategic port of Hambantota to China on a 99-year lease. Two Chinese firms managed by China Merchants Port Holdings Company (CM Port) and Sri Lanka Ports Authority will own port and the investment zone around it. Hambantota port is strategically located right in the middle of vital energy supply lines in the Indian Ocean, connecting the Middle East and East Asia.