India Buys 'World's Emptiest Airport - Hambantota Airport
What is Hambantota story?
- Hambantota air port is located close to Hambantota Naval port
- Hambantota is the main town in Hambantota district, Southern Province Srilanka
- It was hit by 2004 Tsunami
- Chinese always had an eye on Hambantota
- It is twinned with Guangzhou, China since 2007
- In 2009 Srilankan army defeated LTTE and Mahindra Rajapaksa took over the Srilankan government as the 6th president
- China favored and supported Rajapaksa
- Rajapaksa wanted to built a port in Hambantota, but India refused saying no economic profit
- China helped Rajapaksa by offering a loan of $307 billion via EXIM bank
- China dictated the terms on using of the money, all tenders to be filed by Chinese companies
- Chinese supported Rajapaksa in 2015 election, hestill lost to Maithripala Sirisena
- Srilanka is in huge debt of roughly around $13 billion
- Sirisena supports India
- Srilanka gave Hambantota Naval port to China on lease for 99 years, for $1.1 billion to pay the Chinese debt they are already curbed under
- The Colombo port already existed which was driving Srilankan business
- Building Hambantota Air and Naval port was un-necessary
- That's the reason world bodies like IMF and World bank refused to give loan to Srilanka
- China always had an eye on Hambantota Naval port to extend their Naval base
- This will help them attain strategic edge over India
- Srilanka moved Naval base to Hambantota
- Assuring, China will not built a base there
- India accuires 75% stake in Hambantota airport
- This will help ease the loan pressure on Srilanka
- India's move is to keep an eye on China to check if China does not built a Naval base in Hambantota
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