People’s Bank to fund Rs. 12 b for road development

Wednesday, 7 March 2012 00:06 - - {{hitsCtrl.values.hits}}

Measures are underway to develop the national road network this year.

People’s Bank will assist the Government with an allocation of around Rs. 12 billion for road development and rehabilitation projects this year.

The rehabilitation of the Anuradhapura-Trincomalee road (97kms), Ibbagamuwa-Madagalla road via Kubukgate (34.19kms) and Giriulla-Narammala road (16.03kms) will be undertaken with Rs. 8 billion, Rs. 3 billion and Rs. 1 billion funding from People’s Bank.

The construction work relating to these roads will be carried out by local road building contractors under the supervision of the Road Development Authority (RDA).

The road development and rehabilitation project was designed to lower transportation costs and travel times by improving the condition of national highways, Ports and Highways Deputy Minister Nirmala Kothalawela said.

This will help farmers in the east to transport their produce to the market on time and contribute to sustained economic development.

Improved roads will also benefit the tourism industry, he added.

The Deputy Minister said the Government is engaged in developing the Chavakachcheri-Pooneryn road via Mannar (A32). We have been able to complete the construction of the Batticaloa-Trincomalee road (A15) by constructing five new bridges, he said.