page_title: Magampura Mahinda Rajapaksa Port
hierarchical_section_title: Magampura Mahinda Rajapaksa Port
caption_attribution_description: English: Hambantota Port Docks two ships
context_page_description: The Hambantota Port was to be a maritime port in Hambantota, Sri Lanka. The first phase of the port was opened on 18 November 2010, with the first ceremonial berthing of the naval ship "Jetliner" to use the port facilities. It is named after former President Mahinda Rajapaksa. Hambantota Port is built inland and operated by the Sri Lanka Ports Authority. Total estimated construction cost of the Phase 1 of the project is US$361 million, out of which 85% was funded by the EXIM Bank of the People's Republic of China.
  Construction of the port commenced in January 2008. It will be Sri Lanka's second largest port, after the Port of Colombo. The Port of Hambantota will serve ships travelling along the east-west shipping route which passes six to ten nautical miles south of Hambantota. The first phase of the port project will provide bunkering, ship repair, ship building, and crew change facilities. Later phases will raise capacity of the port up to 20 million TEUs per year. When completed, it is claimed it will be the biggest port constructed on land to date in the 21st century.
context_section_description: The Hambantota Port (also known as the Magampura Mahinda Rajapaksa Port) was to be a maritime port in Hambantota, Sri Lanka. The first phase of the port was opened on 18 November 2010, with the first ceremonial berthing of the naval ship "Jetliner" to use the port facilities. It is named after former President Mahinda Rajapaksa. Hambantota Port is built inland and operated by the Sri Lanka Ports Authority.  Total estimated construction cost of the Phase 1 of the project is US$361 million, out of which 85% was funded by the EXIM Bank of the People's Republic of China.
  Construction of the port commenced in January 2008. It will be Sri Lanka's second largest port, after the Port of Colombo. The Port of Hambantota will serve ships travelling along the east-west shipping route which passes six to ten nautical miles (19 km) south of Hambantota. The first phase of the port project will provide bunkering, ship repair, ship building, and crew change facilities. Later phases will raise capacity of the port up to 20 million TEUs per year. When completed, it is claimed it will be the biggest port constructed on land to date in the 21st century.
  However, the Hambantota Port in 2016 made a revenue of US$11.81 million and incurred expenses of US$10 million as direct and administrative costs to report an operating profit of just US$1.81 million.
  As the port incurred heavy losses, making debt repayment difficult, in 2016 it was proposed to lease 80% of the port in a debt-for-equity swap to the China Merchants Ports holding company (CMPort), who will invest US$1.12 billion to revive the port under a public–private partnership. Later, it was decided that under the agreement, CMPorts will divest 20% of its shares to a Sri Lankan company within ten years. CMPort will have to spend at least US$700–800 million or more to bring the port to operational level. In July 2017, the agreement was signed, but leasing only 70% of the Port to CMPort instead of the initially proposed 80%.
  In July 2018, it was announced that Sri Lanka would relocate its naval base at Galle to Hambantota.
caption: The port in 2013
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