The daily operations and management of Sri Lanka’s expressways, which are currently handled by the Road Development Authority (RDA), are to be vested with Sahasya Investment Limited this year.
Cabinet approval has been granted for the proposal put forth in this regard by the Minister of Transport and Highways Bandula Guanwardena.
Accordingly, the operations and management of Sri Lanka’s expressways will be vested with Sahasya Investment Limited with effect from April 01, 2024.
The transfer is to be carried out as per a formal management agreement between the RDA and Sahasya Investments Limited.
Meanwhile, the transfer of all the relevant assets to Sasahasya Investments Limited is to take place within six months consequent to a legal and financial feasibility study jointly conducted by the two parties.
Cabinet Decision :
In the Cabinet meeting held on 26.06.2023, approval was granted for the shifting of the expressway network from the Road Development Authority (RDA) to Sahasya Investment Limited so that the land owned by highways, highway loans and related staff can be managed more commercially. The respective action plan was approved in the Cabinet meeting held on 05.02.2024. Accordingly, the Cabinet of Ministers approved the proposal presented by the Minister of Transport and Highways to shift the daily operations and management of expressways to Sahasya Investment Limited from 01.04.2024 per a formal management agreement and to transfer all the relevant assets to Sasahasya Investments Limited within six months consequent to a legal and financial feasibility study jointly conducted by the RDA and Sahasya Investments Limited. (NewsWire)