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Japanese consortium launched by Taisei Corp and Fujita Corp, breaks Central Expressway impasse in Sri Lanka

| Biz News, Business Development, Sri Lanka | 08/21/2017


Japanese consortium breaks Central Expressway impasse

Date: Aug 20, 2017
Source: The Sunday Times By Bandula Sirimanna

The long-drawn impasse in the commencement of the third section of the Central Expressway (CE III) has ended with the Sri Lanka Government’s decision to allow two Japanese companies to form a consortium to carry out construction work.

Considering the recommendation made by the Japanese Government and the Cabinet Committee on Economic Management (CCEM), the government has given the green light to Taisei Corporation and Fujita Corporation to establish this consortium, Highways and Higher Education Minister Lakshman Kiriella told the Business Times this week. He noted that the two Japanese companies have entered into a basic understanding in formulation of this grouping to build the 32.5 km stretch of road from Pothuhera to Galagedara.

KYOTO GOZEN: WAGYU YAMATONI STEAK – All Bento are served with a selection of traditional Sushi, Tempura, Assorted Starter and Mushroom Miso Soup. (Photo: Filippo L’Astorina)

The two Japanese companies have sent their letters of intent and proposals to the Highways Ministry, he said. Funding for the project is from the Japanese Government based on a yen loan equivalent of US$1 billion from Tokyo Mitsui Banking Corporation for the tender exclusively for Japanese/Sri Lankan companies (prime/sub-contractors). The Japanese Embassy of Sri Lanka shortlisted and nominated three Japanese companies in June 2016 and requested the Road Development Authority (RDA) to select the best company which is commercially most competitive. The companies were Taisei Corporation, Penta Ocean Construction Co. Ltd and Wakachiku Construction Co. Ltd.

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