Shock to Sri Lanka's 'Dragon', China had built the airport, but Indian company will manage it

The Sri Lankan government has decided to hand over the management of its $209 million Mattala Rajapaksa International Airport to Indian and Russian companies. It is noteworthy that this airport has been constructed by China. The Cabinet of the Sri Lankan Government has taken this decision on Friday. This airport is located near the coastal city of Hambantota in Sri Lanka. Hambantota Port has been leased to China by the Government of Sri Lanka for 99 years. In such a situation, an Indian company needs to get the management of the airport located near this port.

The construction of Mattala Rajapaksa International Airport took place in 2013. China's Exim Bank provided financial support for the building of this airport. But ever since it was built, this airport has been surrounded by controversy. In actuality, fewer planes land here. Furthermore, the site of its construction is environmentally delicate. This airport had to cause significant losses for the Sri Lankan government. For this reason, the Indian company Shaurya Aeronautics (Private) Limited and the Russian company Regions Management Company have been given 30 years to manage this airport by the Sri Lankan government. This information has been provided by the Sri Lankan Cabinet through a statement.

The amount for which the Sri Lankan government has signed this deal for Indian and Russian companies has not been disclosed yet. Sri Lanka's deficit is increasing due to the high-interest rates on China's loans. This is the reason why the Sri Lankan government is also demanding to restructure the loan taken from China's Exim Bank. The Sri Lankan government had taken a loan of $4.2 billion from China's Exim Bank for various projects. One of which included the construction of this airport. The airport was constructed when Mahinda Rajapaksa was in power in Sri Lanka. Rajapaksa is also accused of being supported by China.