President Mahinda Rajapaksa yesterday visited the Hambantota Port in the South and inspected the progress of the second stage development at the site.
The second phase of the Port of Hambantota project estimated to cost around US$ 750 million will include a container terminal. It is expected to be completed by 2014.
The project is being funded by the China Exim Bank and has been contracted by the China Harbour Engineering Company.
Hambantota Port once completed will provide bunkering, ship repair and building and crew exchange facilities, and increasing capacity by up to 20 million TEUs a year.
The port, which is a service and industrial port, has a clear advantage over many ports in the region due to its strategic location along the east-west shipping route.
Ports and Highways Deputy Minister, Rohitha Abeygunawardena, the Chinese ambassador to Sri Lanka, Mrs. Yang Xiuping, Hambantota parliamentarians Namal Rajapaksa and V. K. Indika, and Chairman of Port Authority Dr. Priyath Bandu Wickrama also participated in the tour.