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Sri Lanka needs US $53 Billion for infrastructure needs
Sri Lanka is tipped to need about 53 billion US dollars over the next few years to develop vital infrastructure to propel economic growth, an infrastructure specialist said.
"We see tremendous opportunity for Sri Lanka. The key to Sri Lanka’s vision to have motorable transport, integrated roads, railways and ports system," said Vishvjeet Kanwarpal, CEO, GIS – Global InfraSys Ltd & Asia Consulting Group Ltd.
Between 2011 and 2020, Kanwarpal tips Sri Lanka will invest about 18.1 billion dollars in developing an extensive road network, some 8.7 billion dollars in ports and 7.4 billion dollars in electricity works.
Spending on industrial activity will cost about 7.6 billion dollars, some 5.9 billion in aviation, 4.1 billion into railways and about 700 million dollars into telecommunication work.
"Railways has room for more development to contribute more meaningfully to develop the country’s transport network," Kanwarpal told a conference in Colombo organized by Seatrade, a consultancy and state-run Sri Lanka Ports Authority.
Some of the ongoing infrastructure projects between 2011-20 include the Colombo South Harbour, the Omanthai-Kankasanthurai railway line, the Hambantota port, the Bandaranaike International Airport, the Medawachchiya-Thalaimannar railway line, the Mattala International Airport, the ports of Galle and Oluvil and the Kankasanthurai Harbour.
Most of these projects are foreign funded either on concessionary or bilateral loans.
However, Sri Lanka is not without its challenges, said Kanwarpal.
Sri Lanka has separate ministries for land, sea and air transport. Different agencies handling separate functions within the same agency.
http://www.lankabusinessonline.com/news/Sri_Lanka_near_term_infrastructure_needs_of_US$53bn:_expert/1212520723
Sri Lanka is tipped to need about 53 billion US dollars over the next few years to develop vital infrastructure to propel economic growth, an infrastructure specialist said.
"We see tremendous opportunity for Sri Lanka. The key to Sri Lanka’s vision to have motorable transport, integrated roads, railways and ports system," said Vishvjeet Kanwarpal, CEO, GIS – Global InfraSys Ltd & Asia Consulting Group Ltd.
Between 2011 and 2020, Kanwarpal tips Sri Lanka will invest about 18.1 billion dollars in developing an extensive road network, some 8.7 billion dollars in ports and 7.4 billion dollars in electricity works.
Spending on industrial activity will cost about 7.6 billion dollars, some 5.9 billion in aviation, 4.1 billion into railways and about 700 million dollars into telecommunication work.
"Railways has room for more development to contribute more meaningfully to develop the country’s transport network," Kanwarpal told a conference in Colombo organized by Seatrade, a consultancy and state-run Sri Lanka Ports Authority.
Some of the ongoing infrastructure projects between 2011-20 include the Colombo South Harbour, the Omanthai-Kankasanthurai railway line, the Hambantota port, the Bandaranaike International Airport, the Medawachchiya-Thalaimannar railway line, the Mattala International Airport, the ports of Galle and Oluvil and the Kankasanthurai Harbour.
Most of these projects are foreign funded either on concessionary or bilateral loans.
However, Sri Lanka is not without its challenges, said Kanwarpal.
Sri Lanka has separate ministries for land, sea and air transport. Different agencies handling separate functions within the same agency.
http://www.lankabusinessonline.com/news/Sri_Lanka_near_term_infrastructure_needs_of_US$53bn:_expert/1212520723
