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| Wednesday, 22 October 2003 |
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by Rajmi Manatunga The construction of the Colombo-Katunayake expressway on hold for several months is to recommence soon, with the Government looking for an investor to fund the project. Road Development Authority (RDA) sources told the Daily News yesterday that two Indian and Australian companies were conducting a study on continuing the construction of the 24 kilometre expressway which has so far been funded by the Government. The construction, expected to cost an estimated Rs. 12 billion came to a halt last July owing to the Government's inability to provide adequate funds. "We had already completed 35 per cent of the project when the work was halted. We are looking for an investor to fund the project. The Treasury has agreed to provide funds for certain sections of the road for the time being," an RDA spokesman said. The two companies are expected to complete their studies in six months following which the construction will be continued on a Build, Operate and Transfer (BOT) system. The Colombo-Katunayake expressway runs from Peliyagoda to Katunayake. The RDA said they had taken over 88 per cent of the land required for the expressway. |
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