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| Sunday, 14 December 2003 |
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Colombo-Katunayake Expressway work to resume Construction work of Sri Lanka's much awaited infrastructure development project, the Colombo-Katunayake Expressway, will be resumed before the end of next year. The Board of Investment, with the assistance of the Road Development Authority, has rolled out a development plan to complete the project in three years, it was revealed at a media conference last week. The construction work of the 26Km expressway had come to a standstill some time ago. An investor or developer is now being sought to proceed with the work to complete the project as soon as possible. Thirty per cent of the project has already been completed. According to Chairman, Project Steering Committee, Leel Wickramarachchi, the Government is in the process of calling for bidders to select a suitable developer or investor to complete the Rs 14 billion road project. Two leading consulting firms, Snowy Mountain Engineering Corporation of Australia and Price WaterhouseCoopers, will assist the entire construction work. The Project Committee, with the assistance of the international consultants, will give concessions to the prospective developer if this developer fulfils the physical options. The options include a four-lane access control expressway provided in addition to the embankment work, geo-technical work and cross-drainage structures. It also involves an overpass over the two railway crossings on the airport approach road. The Government will call for bidders in January and expects to hold an investor conference in February. Two months will be given for them to decide on the prospective project, Wickramarachchi said. The investor who makes the lowest bid will be selected to construct this massive road project, he added. The Project Committee is giving three options to the selected investor - ie a Toll Build Own and Transfer, which would be privately owned and operated with possibly a traffic guarantee being provided by the Government; substantial ownership of the concessions would be with the Government, but the commercial structure would be similar to that of the previous option; and Annuity Option, which would be privately owned and operated except for the toll during the concession period. Wickramarachchi said that once the expressway is completed, it will be an 18 minutes drive between the two destinations. A toll will be charged from every vehicle that uses the highway. (HS) |
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