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Sri Lanka to invite investors to build multi-storey PPP car parks in Colombo, key towns

ECONOMYNEXT – Sri Lanka will call invite private investors to build multi-storey car parks as public private partnerships with the Urban Development Authority, the state information office said.

The cabinet of ministers had approved a proposal by Prime Minister Mahinda Rajapaksa as the Minister of Urban Development to call for proposals from private investors.

Under the first program private investors would be invited to build multi-storey car parks with mechanical parking stations in eight venues in Colombo and in Battaramulla, Anuradhapura and Kandy as public private partnerships.

Invitations will also be called to build multi storey car parks with housing and office space to recover development costs on a pre-sale basis in Narahenpita, Telecom car park in Pettah, Parking venue at Otters Sports Club Colombo -7 and Kinsey Avenue Colombo -7.

The car parks are expected to reduce traffic congestion. (Colombo/Oct13/2020)