Korea approves US$ 200m for Kandy tunnel construction project

Korea approves US$ 200m for Kandy tunnel construction project

Korea approves US$ 200m for Kandy tunnel construction project

Written by Keshala Dias

05 Jun, 2017 | 10:27 pm

The Ministry of Strategy and Finance of Korea has approved US$ 200 million for Kandy tunnel construction project.

Korea Eximbank will finance this project with a very concessional EDCF loan of 0.15% interest rate and 40 year repayment period including 10 year grace period.

According to the Korean Embassy, the project comprises of 4 tunnels with a total length of 5.5km from Suduhumpola to Tennekumbura via Bogambara and Ampitiya which will be the longest tunnel in Sri Lanka.

The project executing agency will be the Ministry of Highways and Higher Education of Sri Lanka, whereas the project implementing unit will be the Road Development Authority.

Latest News

Are you interested in advertising on our website or video channel
Please contact us at [email protected]