A joint venture between an Indian and a Russian firm has won a 30-year contract to manage Sri Lanka s Mattala Rajapaksa International Airport, located near Hambantota. The airport, once known as the "world s emptiest airport," was built at a cost of $209 million. This marks the second India-Russia joint project in India s neighborhood, following the Roopur nuclear power plant in Bangladesh. The airport s management contract was awarded to the JV of Shaurya Aeronautics (Pvt) Ltd of India and Russia s Airports of Regions Management Company after the Sri Lankan Cabinet called for expressions of interest.
Financing Africa’s energy, oil and gas development requires significant investment and policy coordination, with risk management and insurance playing crucial roles.
The global financial institution said that without significant policy changes, the archipelago nation's overall fiscal deficits and public debt are projected to stay elevated.
As hefty debt burdens weigh down local governments, the central authorities seem poised to stimulate infrastructure spending through a variety of actions.