Development works of Hambantota Port through a Public-Private-Partnership may commence next month under the amended concessionary agreement, says co-cabinet spokesman Dayasiri Jayasekara.
 
Responding to a question raised by a journalist at the weekly cabinet briefing today (15), the minister  said that the Cabinet has approved the proposal of Minister of Ports and Shipping Mahinda Samarasinghe to amend the concessionary agreement between the investing company and Sri Lanka Ports Authority (SLPA).
 
On the request of the government, the Chinese Company has agreed to amend the previous agreement in regard to payments in following manner; to pay 30% (1 installment) on the effective date, 10% after one month (2 installments) and rest 60% within 06 months (3 installments). 

It has been decided to sign an additional agreement in this regard, he said.

It was agreed to pay the investment value to Sri Lankan Government by CM Port or its affiliated institutes as follows:

1. USD 5 million has already been deposited to a special account as security and it should be transferred to SLPA on the effective date of agreements
2. After one month from the effective date 10% of investment value (01 installment) should be paid.
3. 30% of value should be paid after 03 months (02 installments)
4. Rest 60% of value should be paid within 06 months (03 installments)

On the request of government CM Port has agreed to amend these agreements on follows:
 
1. to pay 30% (01 installment) on the effective date 
2. to pay 10% after one month (02 installments) 
3. to pay rest 60% within 06 months (03 installments)