Press briefing of Cabinet Decision taken on 2016-01-06

The Southern Expressway Extension Project - Construction of Section 2 of the Project - (Section from Beliatta to Wetiya)

- The Southern Expressway Extension Project extends from Matara to Hambantota and it consists of four major sections. The total length of the Expressway (from Matara to Hambantota) is 96 km. The proposal made by Hon. Ravi Karunanayake, the Minister of Finance, to enter into loan agreements to obtain a loan of US$ 360.29 million, which amounts to the 85% of the funds required for the construction of the second section of the said project (from Beliatta to Wetiya - 26 km), from the EXIM Bank of China under the Preferential Buyer Credit (PBC) facility and the balance of 15% which amounts to US$ 63.58 million from the Hatton National Bank, was approved by the Cabinet.