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[Friday, November 16, 2007 -
11.40 GMT] The reconstruction of 222 priority bridges throughout the country, and the building of two new flyovers in the suburbs of Colombo will be undertaken under a credit package from the British Government through its Export Credit Guarantee Department (ECGD).
A credit package of Sterling Pounds 50 million (Rs. 11.5 billion) for this purpose provided by the HSBC Bank UK together with HSBC, Sri Lanka will be utilized to finance the reconstruction of 222 priority bridges throughout the country and the construction of two new flyovers, at Kelaniya Railway Crossing and at Hendala on the Colombo – Katunayake Road, respectively.
Two loan agreements in this regard with HSBC UK and HSBC Sri Lanka were signed at Temple Trees today in the presence of President Mahinda Rajapaksa and the Hon. Jeyaraj Fernandopulle, Minister of Highways and Road Development.
The construction of bridges will be undertaken using modular bridge components which are cost effective and can be erected in a shorter period. Most of the bridges on national highways which are of dilapidated condition will be replaced under this project, which is scheduled to be completed in 4 years. It will be implemented by the Road Development Authority and the work has been contracted to Mabey & Johnson Limited of the UK.
The Ministry of Finance states this project follows the successful completion of the bridge rehabilitation programme implemented in the Northern and Eastern Provinces, where 80 bridges were supplied and installed under a similar credit facility of Sterling Pounds 20 million extended by the British Government in 2003.
The Acting Secretary to the Ministry of Finance and Planning Mr. Sumith Abeysinghe signed the agreements on behalf of the Government of Sri Lanka and Mr. David Griffiths, CEO of Hong Kong and Shanghai Banking Corporation Limited, Sri Lanka signed on behalf of the HSBC Bank. Mr. Lalith Weeratunga, Secretary to the President, Mr. S. Amarasekera, Secretary, Ministry of Highways and Road Development, Mr. Tim Owen Edmunds, First Secretary of the British High Commission and Mr. Jaff Bailey, Managing Director of HSBC UK were also present at this occasion.
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