The government is to handover Hambantota port to a Chinese company for a 99 year period. However, the president hopes to get that period reduced to 50 years, said port and shipping minister Arjuna Ranatunga in Kandy yesterday (05).
The minister called on the Malwatte and Asagiriya Mahanayake Theras and thereafter spoke to the media. The president has appointed a committee to inquire into the port handover and once its report is received, cabinet approval will be obtained for the agreement. Therefore, the president and the prime minister have agreed, to enter into the agreement with China. The secretaries have signed a basic agreement, but that is not enforceable, he added.