Sri Lankan highway upgrade

A key route in Sri Lanka is to see a major upgrade programme following provision of a US$100 million loan by the World Bank (WB).
February 29, 2012 Read time: 1 min
A key route in Sri Lanka is to see a major upgrade programme following provision of a US$100 million loan by the 2332 World Bank (WB). The 134km road runs across the island nation from a key road junction in the west to the town of Trincomalee in the east. The project is being split into sections, which will be carried out in stages. The loan is being provided by the lending unit of the WB, the International Development Association. And the deal will have a 20 year repayment period and a grace period of ten years. Sri Lanka's Government will allocate $10 million of the loan for road maintenance. This section of the project is due for completion in August 2012, while the second phase of the work is expected to start at the end of 2012.

For more information on companies in this article

Related Content

  • Significant wins for Signify
    April 19, 2021
    Signify is transforming Gran Canaria’s most important highway, known as GC-1, into a smart highway with the company’s Interact City system
    Read More
  • Waskita Karya seeks loan for Pejagan-Pemalang toll road on Java
    January 12, 2015
    Indonesian state-owned construction firm Waskita Karya will seek a bank loan of US$338 million for its work on the Pejagan-Pemalang toll project in central Java island. The project is being managed by Pejagan Pemalang Toll Road, a subsidiary of Waskita Karya. Waskita company secretary Antonius Yulianto Nugroho said the firm has enough cash resources to cover a quarter of its financial commitment on the project and is targeting bank loans to cover the other 75%. Waskita Karya plans to carry out a bond
    Read More
  • Malaysia’s massive road building project is advancing the use of technology
    August 10, 2020
    Malaysia’s huge Pan Borneo Highway project is benefiting from the use of some of the latest technologies in its planning, design and construction
    Read More
  • Sandvik drilling rigs boost production
    July 9, 2012
    The drill and blast contractor Technical Drilling and Blasting in the United Arab Emirates (UAE) is standardising on Sandvik rock tools for its fleet of drill rigs. The firm operates across Fujeirah, providing quality gabbro aggregates for construction projects in Dubai and Abu Dhabi. Recognised as one of the worlds hardest rocks, gabbro features a typical density in excess of 3tonnes/m, a crushing factor of 10 and a 61% silica content and demand remains strong for this quality construction material. Every
    Read More

Highlighted Content