US$ 300mn ADB loan to construct Port Access Elevated highway

Published : 8:45 am  July 12, 2018 | No comments so far |  |  (90) reads | 

Cabinet approval was granted to obtain a foreign loan of USD 300 million from the Asian Development Bank as an investment for the Port Access Elevated Highway.   


The project will construct an Expressway linking Colombo- Katunayake Expressway to the Colombo Fort and Port via the New Kelaniya Bridge.   


The Cabinet paper stated that the new highway would minimize prevailing traffic conditions in and around the city while also providing trade logistics. 

 
Additionally, a 5.3km long highway is also scheduled to be constructed under the project. The highway from New Kelaniya Bridge will lead to Galle Face. The Expressway will have a dedicated ramp to and from the Colombo Port.   
The project will also upgrade existing road with access to the port to six lanes. Officials have also proposed the installation of an electronic toll collecting system at key points of the new Expressway. 

 
The construction of infrastructure for a maritime facilitation centre was another part of the project. Measures will also be taken to relocate 49 official locations within the port affected by construction.   


The government is expected to make a total investment of USD 360.2 million, of which USD 300 million is to be obtained as foreign loan from the Asian Development Bank. 

 
The proposal to obtain the loan, made by Prime Minister and Minister of National Policies and Economic Affairs Ranil Wickremesinghe was approved by the Cabinet.