The Cabinet of Ministers has approved the liquidation of Sahasya Investment Company, a state-owned enterprise established in 2020 to manage and develop Sri Lanka’s expressways, citing its failure to carry out any of its intended operations.
Initially formed to oversee expressway maintenance, cost reduction through modern technology, and strategic infrastructure planning, Sahasya was later granted operational authority over expressways in March 2024.
However, the company has remained inactive since its inception, the government said.
The decision to dissolve the company was based on the finding that the Road Development Authority (RDA), which already possesses the technical capacity and legal mandate under Act No. 73 of 1981, is better suited for managing national highways and expressways.
The Cabinet has now approved a proposal by the President, in his capacity as Minister of Finance, and the Minister of Transport, to manage expressways and related assets through a new operational unit under the RDA. (Newswire)