Central Expressway’s First Section to Restart with Chinese Funding

The construction of the first section of the Central Expressway (E04), a 37-kilometer stretch from Kadawatha to Mirigama, is set to resume in September or October. The project had been stalled for over three years due to Sri Lanka’s economic crisis. The revival is made possible by renewed financial assistance from China, confirmed by the President’s Senior Economic Adviser, Duminda Hulangamuwa.

The project was originally awarded to the Metallurgical Corporation of China (MCC) and was halted in April 2022 when loan disbursements from the China EXIM Bank were suspended. A key achievement of the recent negotiations is the restructuring of the loan, which will now be repaid in Chinese Yuan (RMB) to reduce Sri Lanka’s foreign exchange risk. The resumption of this project, which was only 36.38% complete, is expected to boost the domestic construction industry, create jobs, and stimulate the economy. The remaining work is projected to take approximately two and a half years to complete.

Source: https://www.dailymirror.lk/breaking-news/The-first-section-of-the-Central-Expressway-to-restart-in-September-with-revived-Chinese-funding/108-318720