Tender announcement for BIA expansion project phase II
The Morning: Airport and Aviation Services (Sri Lanka) (Private) Limited (AASL) announced the tender for Bandaranaike International Airport Development Project phase-two (BIA Project), which aims to accomplish the full scope of the project funded by the JICA’s ODA loan by the end of 2027 to meet the growing passenger demand in Sri Lanka.
In the end of July 2024, upon the signing of the memorandum of understanding on debt restructuring by members of Official Creditors’ Committee and the Government of Sri Lanka, JICA has restarted disbursement for all the JICA-funded projects, including the BIA Project.
JICA recognises the BIA Project as one of the most important projects between Sri Lanka and Japan, and wishes that the new airport facilities to be built under the project will contribute to inviting more foreign visitors to Sri Lanka and increasing the country’s foreign currency earnings. JICA will continue to provide AASL with assistance necessary to complete the BIA Project.
OSL take:
Amidst the country’s overall economic expansion, Sri Lanka’s development programme has presented many new business/investment opportunities to the foreign business/investors currently exploring lucrative opportunities in the Asian, especially in the South Asian region. With much emphasis being placed on the Indian Ocean region by global powers, Sri Lanka presents the ideal business/investment destination given its strategic positioning in the Indian Ocean and strong trade ties with many foreign countries. Given that Sri Lanka’s economic expansion has resulted in an increase in foreign travelers to the country, there is a growth in the business/investment opportunities in the country’s airport and aviation industry. The expansion of the country’s key airport while presenting a business opportunity for foreign businesses, it also opens up a host of indirect business/investment opportunities for foreign businesses/investors. These opportunities include the development of supplementary infrastructure facilities required to address the increasing number of air travelers visiting Sri Lanka on business and tourism. Sri Lanka’s airport and aviation industry therefore has opened up many business/investment opportunities.