September, 16, 2020
Construction of the Central Expressway section I from Kadawatha to Mirigama began yesterday (15), the Chinese Embassy in Colombo stated.
The project will create 1,500 direct and indirect jobs for Sri Lankans, the Chinese Embassy tweeted yesterday (15).
The main contractor is Metallurgical Corporation of China.
The Export- Import Bank of China (EXIM Bank) agreed to provide a concessional loan of US$ 989 million covering 85% of the contract price, for the Central Expressway Project - Section 1 from Kadawatha to Mirigama and Sri Lanka signed the agreement with the EXIM Bank of China in March 2019.
The total estimated cost of the project is US$ 1.164 billion. Furthermore, this loan is the single largest loan approved by the EXIM Bank of China for Sri Lanka.