One of China’s frontline companies operating in Sri Lanka, the China Harbour Engineering Company (CHEC), is claiming US$ 39.6 million as “cost variation and price escalation” for building the Mattala Rajapaksa International Airport. The awarded contract value of the project was US$ 209 million of which the Exim Bank of China provided US$ 190 million as a “concessionary loan.” The variations claimed have been reviewed by an independent committee.
The External Resources Division earlier tried to get the Exim Bank of China to provide a loan for the variations costs but this was turned down.
Now, the Government has obtained proposals from five different banks operating in Sri Lanka – the National Savings Bank, the National Development Bank, the Hong Kong and Shanghai Banking Corporation, the People’s Bank and the Bank of Ceylon. A Government official said a decision on the bank or banks is now being made.
The funeral of arguably the Queen of the Sinhala cinema Malini Fonseka, will be held with state honours on Monday, May 26, 2025, at the Independence Square.
First Bishop of the Batticaloa Diocese, Retired Bishop Joseph Ponnaiya, passed away today at the age of 74, following a brief illness.
The NPP government has been at the wheel for almost 6 months now. The time to keep looking at the rear view mirror and living in the past is about over.
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