News

New Sri Lankan highway to be 100% funded by Chinese

18 July 2013

Hong Kong-based conglomerate China Merchant Holdings will fully fund the first, $1bn phase of construction of Sri Lanka’s northern expressway.

Construction of the proposed 300km highway connecting Colombo to Jaffna through Kurunegala will be carried out in four phases.

The first stage, which will be completed with Chinese assistance, involves building a 53km roadway and is expected to cost $1bn.

One of the main aims of this project is to provide a better transport network (Credit:Terrance/Wikimedia)

Highways ministry secretary R Premasiri said: “One of the main aims of this project is to provide the necessary infrastructure to develop the tourist industry in the country while providing a better transport network.”

Work is due to start early next year.

Source: Colombopage