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Sri Lanka and India yet to reach agreement on MRIA MoU

16 Aug 2018

By Maheesha Mudugamuwa

Sri Lanka and India are yet to reach an agreement on the Memorandum of Understanding (MoU) to operate the Mattala Rajapaksa International Airport (MRIA). Transport and Civil Aviation Minister Nimal Siripala De Silva said Sri Lanka will soon finalize the deal to handover the loss-making airport to India.

The Minister told ‘The Morning’ that Sri Lanka was negotiating with India on the terms and conditions of the Memorandum of Understanding (MoU) to handover the airport to Indian airport operator.

The Minister said that the government had not changed the decision and it would go ahead with India.

Even though the MRIA was built with high interest commercial loans from China by the previous government, Minister De Silva said there was no agreement with China on MRIA.

The airport was officially opened in March 2013.

According to Minister de Silva, the MRIA was running at a major loss of Rs. 20 billion. Fly Dubai, the only airline that was flying to the MRIA recently terminated its operations to the facility built at a cost of US$ 210 million by the previous regime.

A top official of the Ministry said that India would operate the airport on a 40-year lease and as per the draft agreement, the two governments, have agreed that India, with a 70 percent stake in the joint venture, would contribute USD225 million to revamp and run the airport, while the Sri Lankan side would invest the balance.

The country has also entered a 99-year lease with China to develop an industrial park and an oil bunkering facility at the Hambantota port.

Picture by Pradeep Dambarage

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