Press briefing of Cabinet Decision taken on 2016-12-20

Financing the Consultancy Services for Design Review and Construction Supervision of Civil Works for extension of the Southern Expressway Project

- The construction work of all the 4 Sections of the Southern Expressway from Matara to Hambantota commenced in the latter part of 2015 and as of now the construction work is underway. As such, the proposal made by Hon. Ravi Karunanayake, the Minister of Finance, to enter into a Framework Agreement with the Government of the Peoples Republic of China, to obtain a loan of Renminbi Yuan 577 Million for the Design Review and the Construction Supervision of Civil Work and also to enter into a Loan Agreement with Exim Bank of China to obtain the above Loan under the concessional loan facilities provided by the Government of China, was approved by the Cabinet.