Thu, 25 Apr 2024
00:59:53
Road Funding:
17 Dec 2011
14:35:14
9,347 millions rupees from Asian Development Bank to Rehabilitate Access Roads to Southern Expressway
Sri Lankan Government, having recognized the requirement to rehabilitate the roads connecting to the Southern Expressway (SE), the first ever expressway in Sri Lanka, paid more attention in arranging necessary funds for this purpose and as a result has been able to obtain financial assistance of Rs. 9,348.61 mn (USD 85.0 mn) from the Asian Development Bank (ADB).
The total estimated cost for rehabilitation of these roads is LKR 11,613 mn (USD 105.6 mn). Six access roads to SE are expected to be rehabilitated under the above project.
These rehabilitation works are crucial to improve the connectivity of roads and to realize the full potential benefits from the SE. The Government contribution to the above investment will be LKR 2,265.42 millions (USD 20.6 millions) while the balance will be obtained as a loan from ADB's Ordinary Capital Resources (OCR).
Rehabilitation work of the identified road sections will be carried out under the 2nd phase of the ongoing National Highway Sector Project (NHSP) which was commenced in 2007 with the aim of rehabilitating 270 Kilometers of national highways and improving the transport sector regulatory framework.
Under the 2nd phase of National Highways Sector Project , 62 kms of national highway road sections on Matara - Akuressa (3.40 km), Hikkaduwa - Baddagana (14.34km), Horana - Aguluwatota - Aluthgama (23.48 km), Katukurunda - Naboda (2.72km), Kirulapona - Godagama (5.33 km) and Colombo - Horana (12.7 km) are planned to be rehabilitated. These selected 6 road sections usually experience high traffic volume. Therefore, the rehabilitation of these 6 road section will facilitate easier access to the new expressway while improving the transport efficiency of the national highways network.
The Road Development Authority (RDA) under the supervision of the Ministry of Ports and Highways will perform as the project implementing agency. The project is expected to be completed by 30th June 2016.
A loan agreement was signed in this connection by the secretary, Ministry of Finance & Planning on behalf of the Government and the ADB Country Director on behalf of the Asian Development, today at the Ministry of Finance & Planning.
The total estimated cost for rehabilitation of these roads is LKR 11,613 mn (USD 105.6 mn). Six access roads to SE are expected to be rehabilitated under the above project.
These rehabilitation works are crucial to improve the connectivity of roads and to realize the full potential benefits from the SE. The Government contribution to the above investment will be LKR 2,265.42 millions (USD 20.6 millions) while the balance will be obtained as a loan from ADB's Ordinary Capital Resources (OCR).
Rehabilitation work of the identified road sections will be carried out under the 2nd phase of the ongoing National Highway Sector Project (NHSP) which was commenced in 2007 with the aim of rehabilitating 270 Kilometers of national highways and improving the transport sector regulatory framework.
Under the 2nd phase of National Highways Sector Project , 62 kms of national highway road sections on Matara - Akuressa (3.40 km), Hikkaduwa - Baddagana (14.34km), Horana - Aguluwatota - Aluthgama (23.48 km), Katukurunda - Naboda (2.72km), Kirulapona - Godagama (5.33 km) and Colombo - Horana (12.7 km) are planned to be rehabilitated. These selected 6 road sections usually experience high traffic volume. Therefore, the rehabilitation of these 6 road section will facilitate easier access to the new expressway while improving the transport efficiency of the national highways network.
The Road Development Authority (RDA) under the supervision of the Ministry of Ports and Highways will perform as the project implementing agency. The project is expected to be completed by 30th June 2016.
A loan agreement was signed in this connection by the secretary, Ministry of Finance & Planning on behalf of the Government and the ADB Country Director on behalf of the Asian Development, today at the Ministry of Finance & Planning.
© Sri Lanka Business Online,
All Rights Reserved.