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.
