Exim Bank of China
The second phase of construction began in 2012 after The Exim Bank of China loaned another US$757 million with an interest rate of 2 per cent. The loan agreement allowed China Harbour Engineering and China Merchants Port to jointly operate the terminal and take a 65 per cent stake in the port for 35 years. After 35 years, the ownership of the port will be returned to the Sri Lanka Ports Authority.