Sri Lanka to seek proposal from China’s CNTIC to revive Ratnapura expressway project
Sri Lanka’s Ministry of Highways has reportedly received approval from the Cabinet of Ministers to seek a proposal from China National Technical Import and Export Corporation (CNTIC) to revive the proposed Ratnapura expressway project.
According to reports, the proposed Ruwanpura Expressway project was awarded to CNTIC, China National Aero-Technology International Engineering Corporation (CATIC-ENG), Human Construction Engineering Group Corporation (HCEGC) and China Harbour Engineering Corporation (CHEC) in 2016 according to reports but there was no progress.
Sri Lanka’s Government Information Department has stated that the Cabinet of Ministers had approved the “obtaining a proposal for Phase I of Ruwanpura expressway – phase I from CNTIC establishment and calling for statements of consent on competitive basis for construction of phase II,”
CNTIC had also been involved in Sri Lanka’s Southern Expressway extension.
Meanwhile, Sri Lanka’s Cabinet of Minister had also granted approval to seek finances for the remaining sections of the Central Expressway.
The government of Sri Lanka has given priority to the development of the country’s road network in order to improve connectivity that would result in the overall growth of the country’s economy. The government’s plans to move forward with the proposed new expressway is a business opportunity open for grabs for a foreign business engaged in the construction sector. Foreign businesses/investors could also look at supplementary infrastructure facilities that would also be part of the proposed project. Also, the increase in real estate value in the area that would be accessed by the proposed expressway would also pose a lucrative business opportunity.
|Article Code :||VBS/AT/20200303/Z_4|