Sri Lanka launches Colombo Port access elevated highway to boost country’s internal connectivity
Sri Lanka’s Prime Minister Ranil Wickremesinghe laid the foundation on Tuesday (10) for the proposed port access elevated highway with construction to be done by the China Civil Engineering Company (CCEC).
Accordingly, the contract between CCEC and Sri Lanka’s Road Development Authority (RDA) was also signed in the presence of the Prime Minister and Chinese Ambassador Chang Xueyuan.
“We have been striving to create an economy with strong export strategies. All these projects are geared towards making Sri Lanka a central hub in the Indian Ocean. People say we have done nothing. This is not true. We are a Government that has done a lot of things but has chosen not to speak incessantly about it, which is what has created the impression that we have done nothing. The complaint we receive is that the work we do is not talked of,” the Prime Minister has been quoted as saying at the event.
The Premier has further noted that Sri Lanka cannot keep living in an economy that was made for the 19th century, and that it is time for the country to move forward to a new economy.
According to Wickremesinghe, development projects have been undertaken by the Sri Lankan Government, such as the new expressway systems, the multi-modal transport hub, and the development of connecting roads.
“We have also proposed new access roads to enter Colombo, which begins work today. This is the elevated highway that stretches from Kelani Bridge to the Port City. We are also planning to develop a Megapolis in the Western Province, which will eventually become a city that will be renowned as the most beautiful city in the Indian Ocean,” he has said.
The proposed project is to finance the construction of about 5.3 kilometres of an elevated toll highway, with related facilities, between the New Kelani Bridge (NKB) and Galle Face in central Colombo.
Reports state that it will provide a direct link to the city centre and the Colombo Port from the Colombo-Katunayake Expressway via the NKB, and then extend the expressway network into the city and will help alleviate traffic congestion in Colombo’s densely populated areas, improve last-mile connectivity between the country’s expressway network and Colombo’s international port, provide better logistics services for freight operations, and facilitate regional trade.
The proposed project is financed by the Asian Development Bank (ADB), the Government of Sri Lanka, and the Japan International Cooperation Agency (JICA) with US$ 300 million, US$ 60.2 million, and US$ 342.73 million respectively. The total cost of the project has been estimated at US$ 702.93 million.
OSL take:
The Colombo Port access elevated project is yet another large scale development project launched by the government of Sri Lanka. The Sri Lankan government is currently engaged in a development programme covering the entire country. This has created many business/investment opportunities for foreign businesses to explore. Also, the ongoing development programme will help the country’s overall economic growth that would attract more foreign businesses/investors to the country. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country adds to its attraction as a business destination in the South Asian region.
| Article Code : | VBS/AT/12092019/Z_1 |