Hambantota: world’s most empty and unprofitable airport was bought by India and Russia

srilanka extreme losses due to hambantota airpot

Mattala Rajapaksa International Airport (MRIA) in Hambantota, Sri Lanka, became the world’s emptiest and unprofitable airport due to lack of flights after its opening in 2013.

Which was constructed with the financing of China EXIM Bank. The Sri Lankan government had been looking for commercial partners to manage the airport since 2016 as both the port and airport projects proved to be economic disasters.

Mattala Rajapaksa International Airport was built at a cost of $209 million, of which $190 million was financed by a high-interest loan from China’s Exim Bank.

This Sri Lanka built Mattala Rajapaksa International Airport in Hambantota with the help of China, a simple example of China’s dead trap diplomacy.

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On (26 April) the advisory committee appointed by the SriLankan cabinet decided to award a 30-year contract to India’s Shaurya Aeronautics (Pvt) Ltd and Russia’s Airports of Regions Management Company for the management of Mattala Rajapaksa International Airport in Hambantota.

Companies from both India and Russia will now run Hamantota Airport of Sri Lanka.

To address its rising debt and drive economic recovery, China is also in talks with Exim Bank to restructure the debt linked to Sri Lanka Airport.

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