On July 2017, the Concession Agreement (CA) relating to Hambantota Port was signed between Sri Lanka Ports Authority (SLPA) and China Merchant Port Holdings (CM Port) ,with an investment of up to USD 976 million on a 99-years lease. Under the agreement, CM Port holds a 85% share ownership of Hambantota International Port Group (HIPG), whilst 58% of Hambantota International Port Services shares will be controlled by HIPG and 42% will be held by SLPA. Hambantota Internationl Port Group was officially launched on 09th December 2017. The first vessel was successfully berthed at the port on 18th December 2017. Currently, the construction of phase 1 and 2 have been completed, with 10 berths including a facility for Ro-Ro, and oil berths with 3,487m berth in length. In the future, the Port related industry zone will be developed at Hambantota port making it a comprehensive deep water port in South Asia.