The Government has already reached a memorandum of understanding with a Chinese company and multiple agreements are to be signed on the operations of the port soon.Amaraweera said that Sri Lanka is also negotiating the establishment of a 15,000 acre investment zone in Hambantota. (Colombo Gazette) The Minister said that the port will have a new cement factory, oil refinery and a Liquefied natural gas (LNG) plant in the future.Sri Lanka and China are working on an agreement to operate the port in order to help Sri Lanka recover huge losses it has suffered from the port operations. The Government today dismissed claims that China may look to establish a military base in Sri Lanka.Fisheries Minister Mahinda Amaraweera said that some groups are attempting to mislead the public by claiming that China will have a military base at the Hambantota port. Amaraweera said that the Sri Lankan Navy will handle the security aspects of the port. He said that no foreign country can establish such a base in Sri Lanka without the approval of the Government.