Sri Lankan government to construct multi-storey car parks and mixed-development projects in Colombo
Sri Lankan government to construct multi-storey car parks and mixed-development projects in Colombo

Sri Lankan government to construct multi-storey car parks and mixed-development projects in Colombo

The government of Sri Lanka has decided to construct multi-storey car parks and implement mixed-development projects in selected cities in the country including Colombo.
According to the proposed project, the construction and maintenance of car parks will be carried out by investors selected through an open competitive procurement process and the project is aimed at minimising the daily traffic congestion caused due to the influx of vehicles towards Colombo and its suburbs. 
The Cabinet of Ministers has granted approval for the project which had been proposed by Sri Lanka’s Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Urban Development and Housing.  
Cabinet Spokesperson, Minister Keheliya Rambukwella has told the media that the proposed programme will be implemented under two methods. 
Invitation of proposals from the private sector investors will be called for the construction of general multi-storied vehicle parking premises and mechanical parking stations at eight venues within Colombo and the cities of Battaramulla, Anuradhapura and Kandy as a Public-Private Partnership (PPP). 
“Invitation of proposals for the construction of general multi-storied vehicle parking premises and mechanical parking stations with other appropriate projects including housing units, office spaces etc. in Narahenpita, Telecom car park in Pettah, a parking venue at the Otters Sports Club Colombo-7 and Kinsey Road – Colombo-7 is planned that it will generate the expenditure of the project itself in on the pre-sale basis,” Rambukwella has been quoted as saying.

OSL copies:

Sri Lanka has restarted its development programme after a temporary lull due to the impact of the global Covid 19 pandemic. This has opened up a host of business/investment opportunities in Sri Lanka. Given that Sri Lanka is on the path to becoming a business hub in the South Asian region given its geographical positioning in the Indian Ocean, ease of doing business environment and the many trade agreements as well as trade concessions enjoyed by the country, foreign businesses/investors could explore business/investment opportunities in all key economic sectors in the island.  

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Article Code : VBS/AT/26102020/Z_3

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