March, 7, 2014
It has been revealed that the government is engaged in deep discussions to get China Merchant Holdings to invest in the first phase of the Northern Expressway on which work is to commence this year.
Road Development Authority (RDA) chief R.W.R. Pemasiri told AdaderanaBiz there are possibilities of inviting China Merchant Holdings to invest in the construction of this 151 kilometer stretch from Enderamulla in Gampaha to Dambulla.
“The construction costs of this stretch would be around US dollars 2.5 billion. We are in the process of discussing to obtain this amount from China Merchant Holdings. This company is already engaged in the South Colombo Container Terminal of the harbour,” said Mr. Pemasiri.
The Government is discussing to obtain the funds for this project under the Build, Operate and Transfer (BOT) basis. While the Government has named the Northern Expressway as the North-East (Colombo-Kandy) Expressway, it has been planned to join the outer circular expressway at Kadawatha.