Did this port funded by China really bankrupted a Country? - The story of the Hambantota Port
Автор: Amazing Projects
Загружено: 2023-10-10
Просмотров: 94
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#china #megaprojects #hambantota #srilanka
Once a small fishing village on the southern coast of Sri Lanka, Hambantota is now home to one of the country's most controversial infrastructure projects: a deep-water port built and financed by China. It is a story of ambition, debt, and geopolitical tensions, with Hambantota at the center of it all.
Welcome to Amazing Projects, in today's video we will be diving into the contravesial waters of the famous port funded and than appropriated with Yuan.
The idea of a port in Hambantota was first proposed by Sri Lanka's former president, Mahinda Rajapaksa, in 2002. At the time, the country was still reeling from a long and bloody civil war, and Rajapaksa saw the port as a way to jumpstart the economy and create jobs in the impoverished south. But the project was stalled for years due to lack of funding and political instability.
In 2007, China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Company, expressed interest in developing the port. In 2010, CHEC signed a $1.4 billion deal with the Sri Lankan government to build and operate the port for 35 years. Under the terms of the agreement, CHEC would finance 85% of the project, while the Sri Lankan government would provide the remaining 15%.
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