A joint venture between Indian and Russian firms clinches a 30-year deal to oversee operations at Sri Lanka’s Mattala Airport.
In a significant development, an Indian-Russian joint venture has secured a 30-year contract to manage Sri Lanka’s Mattala Rajapaksa International Airport near Hambantota. The airport, known for its low usage despite substantial investment, will be under the purview of Shaurya Aeronautics from India and Russia’s Airports of Regions Management Company.
Originally built for $209 million, the airport gained infamy as the “world’s emptiest” due to minimal flight traffic. After receiving five proposals for management, the Sri Lankan Cabinet endorsed the joint venture, affirming its strategic positioning near the Hambantota port, operated by China. This marks the second collaboration between India and Russia in the region, indicative of broader regional cooperation.
The initiative underscores efforts to revitalise the airport’s operations, addressing financial sustainability and bolstering connectivity for regional economic growth.
