Sri Lankan government revises cost for construction of 1,000 bridges in rural areas
The Cabinet of Ministers in Sri Lanka has reportedly approved a proposal by Sri Lanka’s Minister of Public Administration, Home Affairs and Local Government Janaka Bandara Tennakoon to revise two cost estimates for the construction of 1,000 bridges in rural areas using loan funds from the UK and the Netherlands.
Local media reports stated that Cabinet approval was granted last week to revise the GBP 100 million original contract value of Phase II of the Rural Bridges project planned to construct 537 bridges to GBP 114.19 million while the other was to revise the Euro 105 million original contract value of Phase III of the project to build 463 bridges using Netherland loan funds to Euro 105.25 million.
The decision to revise the process was based on the recommendation of the Cabinet appointed standing Procurement Committee, reports further stated.
According to this project, 81 and 27 bridges have been built respectively at the original rates, including the rural bridges damaged by flood in 2017.
OSL take:
The government of Sri Lanka has resumed its stalled development programme due to the Covid 19 outbreak. Sri Lanka’s development programme has further expanded business/investment opportunities for foreign businesses.
| Article Code : | VBS/AT/21072020/Z_3 |