China Eximbank provides RMB 960 million government concessional loan for Phase I of Hambantota Port Development— Ancillary Works & Supply of Equipment Project (Linked to Project ID #33256)

On March 24, 2013, China Eximbank and the Sri Lanka Ports Authority (SLPA) signed an RMB 960 million government concessional loan (GCL) for the Hambantota Port Development Phase I - Ancillary Works and Supply of Equipment. SLPA is the state-owned operator of major commercial ports in Sri Lanka. This GCL carried the following terms: 20 year maturity, 5 year grace period, 2% interest rate, 0.25% commitment fee, and 0.25% management fee. The purpose of this project was to deepen the harbor basin one additional meter, dredge for approaching channel, provide additional work on the oil terminal, generate breakwater and revetment modification and handling facilities, provide a new administration and services building, and change specification of navigational aid and price escalation. China Harbor Engineering Co. and Sinohydro were the contractors responsible for project implementation. Project implementation began on April 24, 2013 and was completed on April 24, 2015.

Additional details

This loan is ancillary to a 2007 buyer's credit loan for Phase I of Hambantota Port Development (captured in #33256).

Number of official sources

13

Number of unofficial sources

10