Press briefing of Cabinet Decision taken on 2011-11-02

Project of Relocation and Development of Institute of Technology, University of Moratuwa at Diyagama, Homagama

- Cabinet approval has already been granted for the purchase of a land for the relocation and development of the Institute of Technology, University of Moratuwa. This project has been identified as an important priority project and financing for the project will be provided as a suppliers credit of Exim Bank of China. Approval was granted to the proposal made by Hon. S.B. Dissanayake, Minister of Higher Education, on the basis of the recommendations of the Cabinet Appointed Procurement Committee to enter into a commercial contract amounting to US $89.55 million with China National Aero Technology Import and Export Corporation (CATIC) for the implementation of the project.