A new state-owned entity called Expressway Investment Company under Treasury is to be established for collecting funds for the construction, maintenance and revenue collection from expressways in the country.
The Cabinet of Ministers yesterday approved the proposal submitted by the Treasury to set up the entity as rural by-ways projects covering 100,000 kilometres are being implemented in addition to the ongoing implementation of the Central expressway, inauguration of Ruwanpura expressway and Kelaniya to Athurugiriya expressways.
The Cabinet paper noted that approximately 0.5-1% of the Gross Domestic Product should be allocated for the financing of expressways under construction and other scheduled projects.
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