China expresses confidence in completing its multiple investments in Sri Lanka’s southern region
China has reportedly expressed confidence in completing their multiple investments in the southern region of Sri Lanka.
Accordingly, the fourth phase of the highway from Mattala Airport to the Hambantota Port and the Matara-Beliatta railway extension are likely to be completed by January 2019.
The railway project, funded by a US$ 278 million loan from China EXIM Bank, is being built by the China National Machinery Import and Export Corporation (CMC), a local media report stated.
CMC Senior Consultant Engineer Pathmasiri Hallowita has told reporters engaged in an observation visit organised by the Chinese embassy last week that they had completed 90% of the work on the 26.75 km long extension from Matara to Beliatta.
“This is one of the most technologically advanced railway lines in Sri Lanka. The construction work on the Kekunadura Railway station is near completion. It is a dual-floored station building that contains quarters for the staff. This is also connected to a supermarket for the convenience of the travellers. This is the most modern railway line in Sri Lanka where a train can operate at a speed limit of 120 kmph, and operations are slated to commence in four to five months,” he has reportedly said.
He has also added that the final stage of the first phase will include main railway stations in Kekunadura, Bambarenda, Wewrukannala and Beliatta. It was also said that there will also be two substations along the new railway extension.
According to reports, the fourth phase of the Southern Highway, which is a stretch of 23 km, connects Mattala Airport with the Hambantota Port. The section is also expected to be completed by January 2019. The rest of the phases, which is Matara to Beliatta at 30 km, Beliatta to Wetiya at 26 km and the third section from Wetiya to Andarawewa at 15 km, are also targeted to be completed after September 2019.
OSL take:
The success of the Chinese investments in Sri Lanka would be an encouraging sign for other foreign businesses/investors looking at investment opportunities in Sri Lanka. The development agenda of the Sri Lankan government would result in many investment opportunities in the country. Also, the infrastructure development projects carried out by the Chinese at present once completed would result in the creation of opportunities in constructing supplementary infrastructure facilities.
| Article Code : | VBS/AT/24082018/Z_2 |