Colombo Port Access Road set to open by October
The Morning: The Colombo Port Access Road section of the Port Access Elevated Highway Project will be opened by October, the Road Development Authority (RDA) reveals.
Speaking to The Morning Business, RDA Chairman T. Paskaran revealed that the Colombo Port access section of the project was nearing completion, with the authority currently targeting an opening by October.
“We are trying our very best to open the section from the Kelani River Bridge to the Colombo Port by October,” he said.
He added that for the remaining section of the elevated highway project, which extends up to the Lotus Tower Roundabout, the authority would have to commence a procurement process.
“We have to next connect to the Lotus Tower Roundabout. For that we will be awarding a [new] tender,” he said.
Responding to queries regarding the timeline for the awarding of the tender for the remaining portion of the project, he said that while the authority was committed to awarding it as soon as possible, the tender preparation requirements had to be completed first.
He stated that the authority was currently preparing the designs and relevant documents, adding that they hoped that these could be completed and the tender process commenced by the end of the year.
Under the Port Access Elevated Highway, it is planned to connect the expressway network to Colombo City through Galle Face and the Lotus Tower Roundabout.
The Port Access Elevated Highway is being implemented with financial assistance from the Asian Development Bank (ADB), with work under the project having been subjected to recurrent delays caused by Sri Lanka’s recent economic crisis.
According to ADB documents, the Government requested a loan of approximately $ 300 million to fund the project, with the ADB financing expenditures related to civil works, equipment, consulting services, recurrent costs, and financial charges during construction.
The Government is financing taxes and duties, as well as part of the contingencies, amounting to $ 60.2 million.
The loan agreement for the project was signed on 17 January 2019, followed by the signing of the construction contract on 10 September 2019, with construction officially commencing on 27 September 2019.
Although the project was initially scheduled for completion in 2022, work was disrupted due to the country’s economic downturn, preventing the achievement of planned targets.
The original contract value of the project was Rs. 28,002.22 million. However, due to currency depreciation, revisions to port internal road designs, and the absence of a fully estimated project scope at the initial stage, the revised contract value has increased to an estimated Rs. 68,000 million.
A 5.27 km elevated port access highway is being constructed under the project, along with 4.14 km of port access and internal port roads. The road will consist of four lanes, each measuring 3.5 m in width.
OSL take:
Sri Lanka’s renewed infrastructure development programme is creating expanding business/investment opportunities for foreign businesses/investors, particularly as the country seeks to improve internal connectivity and strengthen its position as a regional business and logistics hub. The planned opening of the Colombo Port access section of the Port Access Elevated Highway by October is part of a wider effort to connect major transport corridors with Colombo’s commercial centre. Once completed, the project is expected to improve access between the port, expressway network and key areas of the capital. For international businesses/investors, the opportunities extend beyond major road construction projects. Expressways, bridges, elevated highways, public transport, logistics facilities, intelligent transport systems, tolling technology and road maintenance offer potential avenues for foreign participation through public-private partnerships (PPPs), contractors, technology providers and infrastructure investors. Improved connectivity could also unlock business/investment opportunities outside Colombo by reducing transport costs and improving access to industrial zones, ports, airports, tourism destinations and agricultural production areas. This would allow businesses to operate more efficiently while encouraging investment in regions that have traditionally been less connected to major economic centres. As Sri Lanka’s economy moves towards sustained growth, the development of a modern and efficient domestic transport network will be critical to supporting trade, tourism, manufacturing and services. For foreign investors, the country’s infrastructure expansion therefore represents both an investment opportunity in its own right and a platform for participating in Sri Lanka’s broader emergence as a regional business hub.
| Article Code : | VBS/AT/20260901Z_3 |