Japan International Cooperation Agency (JICA) is to sign a concessionary loan agreement for JPY 35,020 million (approx. Rs. 45 Billion) with Sri Lanka today (March 28) to construct a new 6-lane bridge across the Kelani river at Peliyagoda.
The new bridge will extend southwards from Colombo-Katunayake Expressway, and divide towards Port Access Road and Baseline Road.
The Bridge is designed as an extra dozed bridge, such that no piers need to be constructed on the river bed. This will minimize any impact to the water-flow and ecological balance. Japanese technology is to be used to construct this bridge which will become the Gateway to Colombo city.
In order to promote technology transfer and economic cooperation between Sri Lanka and Japan, JICA’s loan is provided under the Special Terms for Economic Partnership, with 0.1% p.a. interest and 40 year repayment period.
‘Over 400 low-income households are located in the site earmarked for the Project will receive new houses with all amenities at UDA housing complexes nearby. The resettlement is conducted by Road Development Authority in accordance with the National Involuntary Resettlement Policy and JICA’s environmental and social safeguard process, to ensure inclusive development through these large scale projects.
‘The loan agreement for the new Kelani Bridge will be signed by Dr. P. B. Jayasundara, Secretary, Ministry of Finance and Planning, and Kiyoshi Amada, Chief Representative of JICA Sri Lanka Office. The project is implemented by the Road Development Authority under the guidance of Ministry of Highways, Ports & Shipping.