The Higher Education and Highways Ministry today sought Parliamentary approval for Rs.53,000 million to fund six projects including the extension of the Southern Expressway, construction of the third phase of the Colombo Outer Circular Road and the construction of a new bridge across the Kelani River.
Higher Education and Highways Minister Lakshman Kiriella informed Parliament that Rs. 51.5 billion out of the Rs. 53 billion would be raised under the loan scheme of China, Japan and Asian Development Bank, while only Rs. 2.5 billion would be sought from local funds.
He said the extension of the Southern Expressway from Godagama to Hambantota by 96 km was under construction and that 35 percent of the construction had been completed.
He said Rs. 29, 060 million was allocated from the 2017 budget but the allocated funds had already been spent and added that Rs. 24,000 million foreign loans and Rs. 1,200 local funds were needed for the year 2017.
He said the expressway would be opened by 2019.
Minister Kiriella said Rs. 6,000 million more was needed for the construction of the Colombo Outer Circular Road from Kadawatha to Kerawalapitiya for the rest of 2017 as the allocated funds of Rs. 5,000 million had already been spent.
He said additional funds of Rs. 6,000 million were needed for the year 2017 for the construction of a new bridge across the Kelani River as well.
He said the project was funded by a loan provided by Japan International Cooperation Agency (JICA).
He said the construction work of the bridge would commence in October this year and expected to complete the project by 2020.
He said Rs. 3750 million for the first phase of the third priority road project, Rs. 8,000 million for the i-Road project and Rs. 4,050 million for the second phase of the third priority road project were needed for the rest of 2017. (Ajith Siriwardana and Yohan Perera)
ceylon Tuesday, 22 August 2017 11:14 PM
great developments.keep.continue.meanwhile do best to bring back the stolen trillions to these projectsso no need to ask loans. via DM Android App
iemerald Wednesday, 23 August 2017 04:24 AM
how much sought for the back pockets?
nick Wednesday, 23 August 2017 05:14 AM
what else we got left to sell for these loans already seaport & airport sold maybe our airspace next time via DM Android App
nick Wednesday, 23 August 2017 05:21 AM
also wonder how much commissions will be consumed by relevant minister(s) via DM Android App
Raz Wednesday, 23 August 2017 07:11 AM
Good question Nick.How about suggesting selling the MR family. All the looted money is with them. There will be big offer for this. via DM Android App
Nic Wednesday, 23 August 2017 09:38 AM
What is the economic benefit of extending the Southern Expressway to Hambantota, - what is the likely toll collections? May be the Port and Airport?!!!! We all know the former regime made good bucks on Highways and Road rehabilitation projects - all the A and B roads. Kiriella following the same path?
S. R. H. Hoole Wednesday, 23 August 2017 09:57 AM
The statement "while only Rs. 2.5 billion would be sought from local funds" is incorrect and misleading.Ultimately when the loan is repaid, it will be using local funds.
ONE SRILANKAN Wednesday, 23 August 2017 10:48 AM
Dear Uncle kiriella ,Now country is at insolvency stage so why do you continue to borrow funds ,,stop giving funds to contrary sitem mudalali and utilize them for these developments ,,,you know any bull can borrow funds but nation should bear all ,,you are getting huge commission,,,this is indirect development but you are getting benefited directly based on commission
Sha Thursday, 24 August 2017 07:04 PM
What about the roads in Colombo?Especially Colombo North???When will they start to develop the Commercial Capital of our country?
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