New step in Sri Lanka’s largest development project: New hope to the business community.

The first of this type harbor ever constructed in the world, Hambantota International Port filled its basin with sea water starting from 15th August 2010. “Karadiyawara Mangalyaya” the special ceremony was conducted to commemorate this historic event and presided by HE President Mahinda Reajapaksha and many other distinguished guests. Number of national and international parties, were looking forward to this lifetime opportunity, as it creates many opportunities which also will revitalizing the economy.

The 1st phase of the project

The whole project is valued at around US$ 1.5 billion, where the 1st phase of the project will cost of US$ 361. It has scheduled to bring the first ship to the port by November this year. The port will facilitate for any ship in the world as this will be the deepest port in South Asia, where the depth is 17 meters from the sea level. At the beginning the port will facilitate for tree ships at a time and expect to facilitate over 8,000 ships per year. There will be two jetties each of those is 310 meters long.

The administration activities will carry out at a separate building. The lots of opportunities will open to investment including cargo handling, oil storage tanks, warehousing complex, cold storage facility and container-transhipment and a road network to serve the port. It believes that the other major development projects carry out with parallel to this project; International air port, International convention centre, International cricket stadium, highway and railway project and many other development projects will do a significant influence and change the economy.

The government is now calling for proposals from interested parties to commence business ventures at port of Hambantota. Through this, the private sector were requested their contribution and opened an opportunity for private sector to come up with their proposals.

China to build new international airport in sri lanka

The new airport will be near a vast sea port which is being largely funded with Chinese money.

China is financing a growing number of such projects in Sri Lanka, which some see as an attempt to undermine Indian influence in the region.

The two countries are vying for contracts in Sri Lanka following the end of more than 20 years of civil war.

Last week, the Sri Lankan government said China was supplying more than half of all the construction and development loans it was receiving

Work has already started on the airport.

It is close to the massive sea port under construction at Hambantota, which is largely being funded by the Chinese government's lending arm, the Export-Import Bank.

Both projects have the same Chinese state-owned company as contractor, says the BBC's Charles Haviland in Colombo.

The projects Beijing is financing include a host of road improvements in the formerly war-torn north, a huge theatre in the capital and coal power plants, our correspondent says.

They are built by Chinese contractors and use large numbers of Chinese workers.

Analysts in Sri Lanka say there is some unhappiness among Sri Lankan companies and workers who feel they are missing out.

The government, however, says China is simply offering the best terms.

Some officials in India, Sri Lanka's neighbour and China's rival, have said they fear Beijing is trying to undermine Delhi's influence in the region through its economic assistance.

India, for its part, has just announced a credit of $70m to help upgrade Sri Lanka's southern railway line.