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Answers for the Parliamentary Question No.0562/’10

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Ministry        -    Ports & Highways
Questioned  By        -    Hon. Ravi Karunanayake
Date            -    06-03-2012
Answers for the Parliamentary Question No.0562/’10


a)    I)    China Harbour Engineering Corporation and Syno Hydro Joint Venture

ii)    This contract has been awarded through negotiations to a contractor nominated by the Chinese Government, having followed relevant tender procedures and obtaining the approval of the Cabinet of Ministers.

iii)    China Harbour Engineering Corporation and Syno Hydro Join Venture

b)    I) To be commenced    -    year 2012    Action is being taken to commence the  
To be commenced    -    year 2015    the construction work of this stage.
However exact date has not been decided.
ii)  A loan from Ex-IM Bank of China
iii)  Estimated Construction Cost        -    USD 808 Mn
iv)  See the attachment A & B
v)   See the attachment A & B
c)     I)        In addition to income from Hambantota Port, the income from Colombo Port will be used to   
repay loan installment for  first three years.  However, total installment will be paid using income from Hambantota Port after three years.

ii)        As per the relevant agreement, the loan repayment shall be commenced only after one year of the completion of the project.  Accordingly, loan repayment will be commenced in 2012.

d)    Does not arise.