Sri Lanka state buildings to be constructed on BOT basis
ECONOMYNEXT – Sri Lanka’s government is to procure buildings for the education and health sector, constructed by private investors who will transfer them to the government after 15 or 20 years.
The cabinet of ministers had approved the proposal by Prime Minister Ranil Wickremesinghe, the state information office said.
The ‘public private partnership’ involves private investors putting up buildings on state lands and maintaining them for a fee for 15 to 20 years.
The buildings will then be transferred to the state at the end of the concession period.
The method will be used for health, education, skills development sectors (schools, hospitals).
This will reduce the need for putting up money up front for state buildings. (Colombo/May23/2018)