India Buys 'World's Emptiest Airport - Hambantota Airport


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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
Why Hambantota port failed?
  • 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
Why did China give loan?
  • China always had an eye on Hambantota Naval port to extend their Naval base
  • This will help them attain strategic edge over India
 Srilankan Government reaction
  • Srilanka moved Naval base to Hambantota
  • Assuring, China will not built a base there
Indian Government's move
  • 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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