Mediterranean Shipping Co. (MSC), one of the world’s leading container shipping companies, has entered into talks to acquire a significant stake in the Hambantota International Port to expand its operations in the Indian Ocean region.
Foreign media reports citing a report in the 'Journal of Commerce' that MSC has set its sights on Hambantota Port as part of a broader plan to reorganize its hub operations in the Indian Ocean.
MSC is said to be in talks with China Merchants Port Holdings (CMPort), the current major shareholder of Hambantota Port, and Sri Lankan authorities regarding this investment.
Under the current ownership structure, China Merchants Port Holdings owns 85% of the shares in Hambantota International Port, while the Sri Lanka Ports Authority owns the remaining 15%.
Discussions between the two parties are ongoing, and an official announcement is expected to be made in the near future.