Local News: Sri Lanka’s cabinet nod has been received to establish an Expressway Investment Company in such a way that the company is able to raise the funds required for the construction of expressways.
According to the proposal presented by the Prime Minister in his capacity as the Minister of Finance, the proposed company will be solely owned by the Secretary to the Treasury.
The proposed company will generate revenue from tolls collected from expressway users as well as other revenue-generating sources related to expressways.
The Government has given priority to the completion of the Central Expressway, the commencement of the construction of the Ruwanpura Expressway, and the completion of the Kelaniya to Athurugiriya Expressway on towers.
It has been found that about 0.5% – 1% of GDP would have to be spent through the budget to fund the new highways and highways currently under construction. The 100 000 km rural road project is currently underway.