The first phase of the Magampura Harbour construction will be finished before the end of this year.
Answering a question in Parliament Deputy Minister Rohitha Abeygunawardena said that finances for the second, third and fourth phases are currently being estimated.
The Minister said that the first phase was to be completed before 15th of April in 2011. Now it will be completed before the end of this year at the cost of 361 million US dollars. He said that 85 percent of the funds will be obtained as a loan from the Chinese Exim Bank.