August 17 (LBO) – Sri Lanka has got two bids with German and Malaysian funding to build 16 flyovers and interchanges in Colombo over two years, officials said. A group of local construction firms with funding from German state bank KfW and a Malaysian firm backed by Malaysiaâ€™s Export-Import Bank, put in bids.
The government has received two proposals -one from Power Drive Fastening Systems from Kuala Lumpur, financed by Malaysiaâ€™s Export-Import Bank,â€ Media Minister Anura Yapa told journalists on Thursday.
The other bid was from a joint venture between a consortium of local construction firms and a German based design consultant, with funding from KfW.
It will cost an average of one billion rupees per flyover on design, build and transfer basis, with the funding likely to be on semi-commercial terms,â€ S Amarasekara, Secretary to the Ministry of Highways, told LBO.
Sri Lankaâ€™s Cabinet of ministers approved the two bids, Yapa said, with Memoranda of Understanding to be signed, followed by detailed technical and financial proposals. We will be awarding construction of about six of the flyovers to local firms, with the balanc