Mar 06, 2019

Conditions imposed on foreign companies! Featured

Regulations would be imposed where foreign companies could apply for construction tenders within the country only if the investment is made by a foreign investor or if the foreign company is in a 50% partnership with a local company, said Finance Minister Mangala Samaraweera during his budget 2019 speech yesterday (05).

He said the railway network is in a dilapidated condition, adding that the upgrading of railway lines and trains would be handed over to the private sector under leasing agreements.

Further, the minister noted that allocations had been made for the construction of the balance stretch of the Southern Expressway, Central expressway and the commencement of the Ruwanpura expressway.