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Thursday, February 26, 2015 - 06.26 GMT

Malaysia to invest in Colombo-Kandy Expressway

 

A group of Malaysian investors has expressed willingness to launch construction work on the Colombo-Kandy Expressway which was only limited to a foundation stone.

A discussion between the investors concerned and Minister of Plantation Industries Lakshman Kiriella was held in Colombo yesterday (Feb. 25). The Minister requested the Malaysian investors to undertake the project not under a loan scheme but as an investment.

Minister Kiriella told the Malaysian investors that the Government’s intention was to minimize as far as possible in securing long term loans under the massive loan proportion. The Government’s aspiration is to cover the investment from the funds expended in the use of roads within the local expressway network from investment opportunities, he said.

The Minister said that this system is known as the Bill Order and Transfer Scheme. 1000 million rupees had to be invested on the construction of the road which could have been completed at a cost of 100 million Dollars in the year 2002, due to the negligence in the past.

Minister Kiriella said that the present Government intended to build the Colombo-Kandy Expressway as an investment sans any loan schemes.




 

 
 
   
   
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Last modified: February 26, 2015.

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