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    Development - Provincial

    Cabinet gives nod to obtain funds from China's Exim Bank for Southern Expressway Extension Project Featured

    January 09, 2016
    Cabinet gives nod to obtain funds from China's Exim Bank for Southern Expressway Extension Project

    The government has decided to obtain funds from China's EXIM Bank to complete the second section of the Southern Expressway Extension Project which extends the EO1 Expressway from Matara to Hambantota.

    The Southern Expressway Extension Project consists of four sections from Matara to Hambantota with a full length of 96 km and the second section is the 26 km segment from Beliatta to Wetiya.

     

    The proposal made by Minister of Finance Ravi Karunanayake to obtain 85 percent of relevant funds amounting to US$ 360.29 million from EXIM Bank China was given the nod by the Cabinet of Ministers at yesterday's meeting.

     

    The remaining 15 percent of cost amounting to US$ 63.58 million will be obtained from the Hatton National Bank

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