News
Govt. plans talks with China Exim Bank to resume work on Central Expressway
View(s):By Damith Wickremasekera
The Government will renegotiate with the Export-Import Bank of China (Exim Bank) to resume work on the 35-kilometre Kadawatha-Mirigama stretch on the Central Expressway after nearly three years.
According to officials, the Government owes the contractor, Metallurgical Corporation of China (MCC), Rs. 45.9 billion for the work stoppage.
Deputy Transport Minister Prasanna Gunasena said Rs. 81 billion was allocated in this year’s budget for the work on the Central Expressway and part of this money would be used to make the back payments.
“We are trying to renegotiate with China diplomatically so that the same company continues with the work. The previous government negotiated at Rs. 11.2 billion for a kilometre, while we plan to negotiate the contract at Rs. 10.7 billion for a kilometre,” he said.
He added the China Exim Bank’s response had been positive so far.
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