5 LRT lines open for investor participation
• Cabinet agrees for feasibility studies on 5 LRT lines.
• The detailed feasibility study will be in the region of Rs. 250-300 million.
• A competent consultancy firm to conduct the study on an open, competitive basis.
• The unity government will allocate Rs. 300 m to Megapolis Ministry to call for EOIs and select company.
According to the Cabinet decisions recently, feasibility studies for 5 Light Rail Transit (LRT) lines will be tendered for investment from private parties.
These are not funded by the Japanese Government.
7 LRT routes are to be implemented under the Western Region Megapolis Masterplan in phases till 2030.
As of now, the unity Government has identified the feasibility studies of the 4th line covering Borella, Battaramulla and Malabe (10 km) and the 1st line covering Fort, Colpetty, Bambalapitiya, Borella, Union Place and Maradana.
As a prerequisite to invite the private sector to invest in the balance part of the Colombo LRT project, it is suggested to conduct a detailed feasibility study on the 5 LRT lines which are not indentified under JICA.
The unity government plans on utilising local funds:
• To ascertain the technology.
• To arrive at cost of projects.
• To identify priority lines.
Accordingly, the Ministry will call for Expressions of Interest (EOIs).
Thereafter, the Megapolis Ministry will call for proposals once the companies are shortlisted and procurement costs will be borne by the Government.
The Western Region Megapolis Masterplan has 140 projects in its agenda and they are proposed by the unity government on the PPP investment plan.
Among the key projects that is going to turn Colombo in to a modern day fully integrated smart city, is the LRT system comprising 7 routes crisscrossing the busiest touch points in Colombo.
JICA has shown interest in this project for some time now, but due to the massive cost of the project, the government wants to get more investors involved.
Hence, overseas parties interested in LRT should consult the biz-friendly OSL Team, to learn more about participating in the EOI process.
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