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Sri Lanka trims cost of two water supply projects

Jul 31, 2015 06:06 AM GMT+0530 | 0 Comment(s)

  

ECONOMYNEXT – Sri Lanka’s new government has managed to reduce the cost of two water supply schemes to towns east of the capital Colombo after negotiations with the contractors, a government spokesman said.

One contract was given to Maga Engineering Ltd for 3.7 billion rupees on which agreement was reached after negotiations with on a lump sum discount of 30 million rupees on the project’s completion, the Ministry of Urban Development, Water Supply and Drainage said.

The water supply scheme is to be funded with a loan from Bank of Ceylon.

Another contract was given to Sierra Construction Ltd for 8.7 billion rupees, where agreement was reached after talks on a lump sum discount of 87 million rupees on the project’s completion.

This project is also to be done with local bank funding. (Colombo/July31/2015)