COLOMBO, July 26 (Xinhua) -- Sri Lankan cabinet has approved agreement with China on Hambantota Port, describing it as "a win-win situation for both countries."
Under the agreement, China Merchants Port Holdings will own 70 percent stake of the port while Sri Lanka Ports Authority will own 30 percent, Ports Minister Mahinda Samarasinghe said late Tuesday.
Speaking at a media briefing in Colombo, Samarasinghe said the matter will also be discussed in parliament on Friday and all legislators will be briefed about the agreement signed between the two countries.
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