Sri Lanka assigns Rs. 30 billion Kandy multimodal transport terminal development project deal
Daily FT: The Cabinet of Ministers at their meeting recently approved awarding the contract for the rehabilitation and improvement of access roads to the Kandy Multimodal Transport Terminal Development project (KMTTDP) to Maga Engineering Ltd.
“The KMTTDP is a key component of the greater Kandy City Development initiative known as ‘Visal Mahanuwara’ is funded by the World Bank through a Rs. 30 billion loan,” Cabinet Spokesman and Highways Minister Bandula Gunawardena.
Speaking at the weekly post-Cabinet meeting media briefing he highlighted the importance of rehabilitating and improving the access roads to the new transport terminal to ensure effective operation.
“Bids were invited under the local competitive bidding procedure, and we received 10 bids for the project. After a thorough evaluation by the Standing Procurement Committee, Maga Engineering was selected as the most responsive and lowest bidder,” he said.
Gunawardena said the Cabinet approved the proposal presented by him based on the Committee’s recommendations.
OSL take:
The ongoing economic activities and the overall expansion of Sri Lanka’s economy have resulted in the need for the country to develop internal and external connectivity to further boost the country’s economic growth. Sri Lanka’s development programme, especially developments in the transport sector, has presented many business/investment opportunities. The funds being pledged by multilateral donor agencies for the developments in the transport sector has made business/investment opportunities in the sector more lucrative for foreign businesses/investors. The expansion in the transport sector has also opened up opportunities in supplementary sectors in the transport industry that include technical expertise and other related equipment. The growing business potential in Sri Lanka’s transport sector, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the sector.