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Press briefing of Cabinet Decision taken on 2020-10-12
Establishment of the Expressway Investment Company

- The Statement at National Policy enunciated in 'Vistas of Prosperity and Splendour' has clearly identified the necessity of having an interconnected roadnetwork as a key aspect of the economic growth strategy. Accordingly, 100,000km Rural Road Project is now in progress and the Government has given priority to complete the work of the Central Expressway and to initiate the construction of the Ruwanpura Expressway and to complete the work of the Elevated Expressway from Kelaniya to Athurugiriya.

It has been observed that an investment of 0.5% - 1% of the Gross Domestic Production has to be borne by the National Budget for financing Expressways currently under construction and those are to be constructed. As such, the proposal made by the Prime Minister in his capacity as the Minister of Finance to incorporate a Company with Secretary to the Treasury as the sole shareholder, bringing all the Expressways under one Company enabling the said Company to raise funds required to construct the Expressways through the funds received as the revenue earned by the toll charged from the users of the Expressways as well as the other sources of income of Expressways , was approved by the Cabinet.