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Sri Lanka likely to re-award expressway deals to Access, other contractor:
Tue Jul 28, 2015 10:19 pm
Sri Lanka likely to re-award expressway deals to Access, other contractor: sources
Jul 28, 2015 10:24 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka may re-award suspended expressway building contracts to five local contractors, but at re-negotiated prices, sources familiar with the matter said.
Contract packages to build five sections of the Northern Expressway, now re-named the Central Expressway were awarded to a one Chinese and five local contractors in late 2014, but the newly elected administration charged that the deals were corrupt.
But the prices and terms for the contracts will be re-negotiated the sources said.
Construction firms including Sri Lanka Access group won deals in the express way.
The new administration promised to award all contracts by competitive bidding, but it has come under fire from the opposition who said suspended contracts and delays were resulting in job losses to thousands of workers in the construction sector.
Metallurgical Corporation of China has already been given the nod to build a section of the highway. Part of the funds will be re-allocated from savings made in the Outer Circular Highway section 3 and additional new Chinese funds.
Funding for the five packages to local contractors is expected to come from the sale of Treasury bonds in the domestic market.
Other sections will be funded by the Asian Development Bank and the Japan International Co-operation Fund. These lending agencies have their own procurement guidelines. (Colombo/July28/2015)
Jul 28, 2015 10:24 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka may re-award suspended expressway building contracts to five local contractors, but at re-negotiated prices, sources familiar with the matter said.
Contract packages to build five sections of the Northern Expressway, now re-named the Central Expressway were awarded to a one Chinese and five local contractors in late 2014, but the newly elected administration charged that the deals were corrupt.
But the prices and terms for the contracts will be re-negotiated the sources said.
Construction firms including Sri Lanka Access group won deals in the express way.
The new administration promised to award all contracts by competitive bidding, but it has come under fire from the opposition who said suspended contracts and delays were resulting in job losses to thousands of workers in the construction sector.
Metallurgical Corporation of China has already been given the nod to build a section of the highway. Part of the funds will be re-allocated from savings made in the Outer Circular Highway section 3 and additional new Chinese funds.
Funding for the five packages to local contractors is expected to come from the sale of Treasury bonds in the domestic market.
Other sections will be funded by the Asian Development Bank and the Japan International Co-operation Fund. These lending agencies have their own procurement guidelines. (Colombo/July28/2015)
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