October 08, 2009

China Built Tank Farm On Track in Sri Lanka

The Hambantota Port development project on the southern coast of Sri Lanka is well underway. The project is being built by a consortium of Chinese companies largely funded by the Export-Import Bank of China. The multi-stage development is building a port capable of handling the largest container and bulk vessels. The President of Sri Lanka broke ground on an oil storage facility today. Three of the 14 storage tanks under construction will be for aircraft use. The port is on track for a 2011 initial completion. Situated midway between the main East-West shipping routes Hambantota is equidistant from the Straits of Malacca and Sunda....

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