Sri Lanka’s 210 km Integrated Roads Project sees steady progress under local company
Daily FT: Access Engineering PLC (AEL), Sri Lanka’s premier construction enterprise is eyeing the completion of the 210 km Integrated Roads (i-roads) Project in the Gampaha District of the Western Province by early 2023.
The project initiated by the Road Development Authority (RDA), aims to provide the much needed accessibility required by communities in the rural areas of the district.
Enriching Sri Lankan lives, AEL, who has engaged in the development of roads in many rural areas in the past, serve as the main contractor for the rehabilitation, improvements and maintenance of these roads.
Having begun work on the project back in April 2020, AEL has faced a number of challenges hindering the smooth progression of the project, mainly due to the COVID-19 pandemic back in 2020 and 2021 and the current economic crisis being experienced have caused disruptions sporadically.
However, AEL, the foremost civil engineering enterprise in the island is continuing to pull through to make good on its promise of ‘Engineering tomorrow’s heritage, today’.
The project, funded by the Asian Development Bank (ADB) also stands to bring in much needed foreign currency to Sri Lanka and the project will eliminate issues pertaining to poor transport infrastructure and will provide rural citizens with improved connectivity to socio-economic centres, uplifting their lives.
The project which falls under the Second Integrated Road Investment Program of the RDA is earmarked for completion by February 2023.
Sri Lanka’s development programme is aimed at increasing connectivity within the country while also preparing Sri Lanka to become an emerging business destination in the South Asian region. The country’s geographical positioning in the Indian Ocean and the many trade agreements as well as concessions enjoyed by the country have also helped in this endeavor. Sri Lanka’s economy has shown great resilience to external and internal challenges through the years and is once again on the path to recovery after facing the pandemic challenges as well as the economic crisis. Many economic sectors continue to expand while opening many business/investment opportunities. Local authorities have also launched many incentives and continue to improve the ease of doing business environment in the country to further woo foreign investments to the country. Given the expanding opportunities and growing business potential in the country, foreign businesses/investors could explore the opportunities in Sri Lanka.
|Article Code :||VBS/AT/25072022/X_3|