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Press briefing of Cabinet Decision taken on 2017-02-21
Funding Major Infrastructure Projects through a Government Owned Special Infrastructure Company (SIFCO)
- The policy of the Government is to give priority in investing in major infrastructure projects which would accelerate the development of the country by adopting efficient and cost effective mechanisms, to manage the funding in an accountable manner. Accordingly, the proposal made by Hon. Ravi Karunanayake, the Minister of Finance, to establish the "Special Infrastructure Company (SIFCO)" as a limited liability company owned by the Government of Sri Lanka and the Road Development Authority making way for investment in an optimum efficient manner, in the identified Expressway Projects, to vest the asset base of the Expressway Projects being constructed in the Southern, Outer Circular Road and Colombo - Katunayake Expressways and the future Expressway Projects undertaken in future with the SIFCO to generate the Capital from the investors using the asset base or to construct a new Expressways using such assets as a surety to obtain loans to construct new Expressways, was approved by the Cabinet.