Sri Lanka wants to start US$2.3bn Kandy expressway fast: Minister

COLOMBO (EconomyNext) – Sri Lanka wants to start an expressway to Kandy in the central hills of the island which may cost up to 2.3 billion US dollars quickly, Finance Minister Ravi Karunanayake said.

"Colombo-Kurunegala-Kandy and Kurunegala-Dambulla expressway we want to start in a few days," Karunanayake told reporters in Colombo.

"We will take commercial loans but a lower rates.

"Though funds are available at rates around 0.5 percent from JICA (Japan International Co-operation Agency) we want to start this project quickly."

There was a possibility of raising Japanese finance, he said.

The preliminary work necessary to start the road has been completed, he said.