Sri Lanka seeks investors for loss-making Chinese-built Mattala airport
Sri Lanka is inviting Expressions of Interest from domestic and international investors to operate its loss-making Mattala Rajapaksa International Airport (MRIA) in Hambantota. The airport, built with a nearly $200-million Chinese loan under former President Mahinda Rajapaksa, has been commercially unviable since its 2013 launch, accumulating a net loss of approximately $130 million. Despite previous interest from India and Russia for joint ventures, proposals did not materialize. The government aims to utilize the airport's resources, which currently handles no scheduled flights, only charter planes, highlighting the need for external investment to make it viable.
Key Points
- Sri Lanka is seeking investors to operate its loss-making Mattala Rajapaksa International Airport (MRIA).
- The airport was built with a nearly $200-million loan from China.
- MRIA has accumulated a net loss of approximately $130 million since its launch in 2013.
- Previous joint venture proposals from India and Russia did not materialize.
Exam Facts
- Airport name: Mattala Rajapaksa International Airport (MRIA).
- Location: Hambantota district, Sri Lanka.
- Chinese loan: Nearly $200 million.
- Accumulated loss: ~LKR 40 billion (roughly $130 million).
- Former President: Mahinda Rajapaksa.
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