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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2342

Colombo-Katunayake expressway ready by 2007

[b]Colombo-Katunayake expressway ready by 2007[/b]

By Munza Mushtaq – Reporting for Asian Tribune

[b]Colombo, 09 February, (Asiantribune.com):[/b] Plans are underway to complete the Colombo – Katunayake expressway before 2007, with Chinese assistance.

The Sri Lankan Government recently signed a memorandum of Understanding with the Metallurgical Construction Corporation (MCC), a Chinese company, to complete the Colombo-Katunayake Expressway.

"The 26-km Expressway was designed more than a decade ago and left abandoned for many years due to funding problems. At present 35% of the work has been done and to complete the balance the Government will raise a soft loan of US$ 200 million from the Chinese Government," Highways Ministry Secretary Sarath Amarasekera said.

Meanwhile, the Government will also obtain a loan from the Chinese Government to complete the expressway. The Chinese Government has principally agreed to provide a loan for this project.

http://www.asiantribune.com/show_news.php?id=16977

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