The government of Sri Lanka completed the formal handover of the strategic port of Hambantota to China on 9 th December 2017, which will take control of the facility on a 99-year lease. The total deal is worth $1.12 billion.Prime Minister Ranil Wickremesinghe was given a cheque of USD 292,097, 400 million on same day as an advance payment ,according to the agreement. statating that “30 percent would be paid on the date of signing''
The Hambantota Framework Agreement was signed between CMPort, Sri Lanka Ports Authority (SLPA), Government of Sri Lanka, Hambantota International Port Group (Pvt) Ltd, and Hambantota International Port Services Company (Pvt) Ltd .
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