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Sri Lanka to meet Chinese Exim Bank officials to revive Central Expressway project

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Sri Lankan officials are set to meet representatives from China’s Export-Import Bank (Exim Bank) today to discuss the resumption of the Central Expressway construction, Transport and Highways Minister Bimal Rathnayake announced on Friday. 

The discussions aim to restart the first phase of the Expressway project, which has faced significant delays in recent years.

The Central Expressway, estimated to cost approximately Rs. 122 billion, has been stalled since construction companies abandoned the work. 

The loan agreement for the first phase, valued at $989 million, was signed in March 2019, with construction beginning in September 2020. 

However, the project was halted after Sri Lanka defaulted on its debt, leading to financial repercussions, including compensation claims.

President Anura Kumara Dissanayake raised the issue during his visit to China, and negotiations are ongoing to reduce compensation costs. 

Minister Rathnayake expressed optimism about reviving the project and highlighted efforts to resume other stalled infrastructure initiatives, including the Port Access Elevated Highway, Kandy Multimodal Transport Terminal, and Mattala Airport.

In a related development, Rathnayake announced plans to introduce card payment facilities on the Southern Expressway by April, enhancing convenience for motorists. 

The Road Development Authority is working to implement the system, marking a step towards modernizing Sri Lanka’s transportation infrastructure.

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LG Polls: EC sets deadline to submit campaign finance reports

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The Election Commission has instructed all candidates who contested the 2925 Local Government (LG) Elections to submit their campaign income and expenditure reports on or before May 28.

A statement by the Commission emphasized that candidates are required to prepare and submit their financial disclosures in line with the provisions of the Election Expenditure Regulation Act No. 03 of 2023. These reports must be handed over to the Returning Officers of the respective electoral districts.

Election Commissioner General Saman Sri Ratnayake stated that this process is part of the Commission’s efforts to ensure transparency and accountability in the electoral process.

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Special train schedule for Vesak festival & long weekend

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Sri Lanka Railways has launched special train services from today (May 09) to accommodate increased passenger demand during the long weekend and the state Vesak festival.

These special train services will operate along two major routes : Colombo Fort – Badulla, and Colombo Fort – Kankesanthurai.

Accordingly, these services will continue until May 13.

Further details of the special train schedule is as follows:

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China’s Yantai delegation promotes zero-carbon efforts in SL

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A delegation from Yantai city in China’s Shandong Province held a symposium and exchange meeting with Sri Lankan stakeholders to expmain Yantai’s proactive efforts and practical initiatives in promoting international cooperation on zero-carbon islands.

Chinese companies such as Dongfang Electronics, Tayho Advanced Materials, and LONGi Green Energy presented their solutions in new energy and green materials tailored for island countries to reduce carbon emission.

During the COP29 Conference in 2024, Yantai City launched the International Zero-Carbon Island Cooperation Initiative and proposed the establishment of the International Zero-Carbon Island Cooperation Organization, an international non-governmental platform dedicated to advancing cooperation on zero-carbon island development.

“The Organization aims to address climate change and achieve sustainable development for islands, promoting international exchanges and cooperation among stakeholders from island regions,” Chinese Embassy in Colombo said in a statement.

Zheng Deyan, Mayor of Yanta, briefed the attendees on Yantai’s proactive efforts and practical initiatives in promoting international cooperation on zero-carbon islands.

He also extended a warm invitation to Sri Lanka during the meeting, welcoming relevant institutions, universities, research institutes, and enterprises to join the Cooperation Organization.

Tilak Siyambalapitiya, Chairman of Ceylon Electricity Board, B.K. Prabhath Chandrakeerthi, Secretary of the Ministry of Plantation and Community Infrastructure, and K.R. Uduwawala, Secretary of the Environment Ministry were among the Sri Lankan delegates at the symposium.

“During the visit, Yantai-based companies signed several cooperation agreements with Sri Lankan partners, covering key sectors such as green materials and renewable energy, laying a solid foundation for in-depth collaboration,” the Chinese Embassy said.

“In the future, under the framework of the International Zero-Carbon Island Cooperation Organization, Yantai City will actively participate in and promote Sri Lanka’s green and low-carbon transition, and support improvements in people’s livelihoods and climate governance, working together to open a new chapter of mutual prosperity and development.”

Yantai city’s move comes after India’s Adani Green withdrew its efforts to build two wind power plants in Sri Lanka’s North to connect 500 MW to the national grid after differences on the price per unit.

Sri Lanka’s previous government agreed for an 8.26 cent US dollar per unit in its power purchasing agreement. However, President Anura Kumara Dissanayake’s government annulled the agreement and said they are ready to discuss the project with the unit price of around 6 cents.

China’s initiative also has come at a time after U.S. President Donald Trump’s attempts to slash climate efforts approved during his predecessor’s administration, including a $20 billion funding program for projects that reduce greenhouse gases.

(economynext.com)

(Except for the headline, this story, originally published by economynext.com has not been edited by SLM staff)

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