Expansion of Sri Lanka’s Bandaranaike International Airport assigned to Japan’s Taisei Corporation
The expansion of Sri Lanka’s Bandaranaike International Airport (BIA), which is estimated to cost around US$ 570 million (Rs. 103 billion), has reportedly been assigned to Japan’s Taisei Corporation.
The relevant proposal submitted by Sri Lanka’s Tourism and Aviation Minister Prasanna Ranatunga was approved by the Cabinet of Ministers last week and the awarding of the contract related to Package ‘A’ of Step 2 of Stage II of the BIA project will be assigned to Taisei Corporation for a total contracted sum of in Japanese Yen 41,553.89 million and in Sri Lankan Rupees 35.13 billion. Total value of the contract is Rs. 103 billion or US$ 570 million.
According to reports, enhancing the capacity of the airport’s passenger terminal is seen as an immediate and essential requirement as the annual number of air passengers handled by BIA is estimated to reach 20 million by 2025.
Sri Lanka is engaged in a development programme covering all key economic sectors. This has resulted in the expansion of business/investment opportunities in Sri Lanka. Also, Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region.
|Article Code :||VBS/AT/20200303/Z_2|