Sri Lankan government grants third phase of Central Expressway construction to Taisei Corporation of Japan
The Sri Lankan government has reportedly decided to award the contract for the third phase construction work of the proposed Central Expressway to M/S Taisei Corporation of Japan.
“Tokyo Mitsubishi Bank of Japan has agreed to provide funds of Japanese Yen 100 billion and it was decided to award the contract to M/S Taisei Corporation of Japan,” a government statement on the latest Cabinet decisions has noted.
Accordingly, Taisei will build a 32.5 kilometre section of the Central Expressway, running from Pothuhera to Galagedera through Rambukkana.
The proposal to grant the third phase of the Central Expressway to the Japanese Company was presented to the Cabinet of Ministers by Prime Minister Ranil Wickremesinghe in his capacity as the Minister of National Policies and Economic Affairs.
OSL take:
The assigning of Japan’s Taisei Corporation to construct the third phase of the Central Expressway shows the progress being made by the Sri Lankan government in the Central Expressway project. The project while providing opportunities for suppliers to provide material required for the expressway construction work, would also open opportunities for investors to look at township development projects along the expressway. Investors could then build up supplementary infrastructure required along the expressway project.
| Article Code : | VBS/AT/20180223/Z_5 |