ADB approves 300 mn Dollar loan for new elevated bridge in Colombo

Improved connectivity and infrastructure development are essential if Sri Lanka is to reach its potential as a trade and logistics hub in South Asia

The Board of Directors of the Asian Development Bank (ADB) approved a $300 million loan to Sri Lanka for the construction of a new bridge linking the capital Colombo now being constructed across the Kelani River.

The loan facility will finance the construction of about 5.3 kilometers (km) of elevated toll highway with related facilities between the New Kelani Bridge (NKB) and Galle Face in the central Colombo in Sri Lanka.

The new highway is expected to ease traffic congestion, improve connectivity, and facilitate trade logistics in the country, the ADB said in a statement today.

“Improved connectivity and infrastructure development are essential if Sri Lanka is to reach its potential as a trade and logistics hub in South Asia,” said ADB Senior Transport Specialist South Asia Mr. Kanzo Nakai. “The new highway will help provide a direct link to the city centre and the port from the Colombo-Katunayake Expressway through the NKB, improving connectivity and contributing to growth.”

The 5.3-km elevated toll highway to be built as part of the South Asian Sub-regional Economic Cooperation (SASEC) Port Access Elevated Highway Project will include related road facilities including an advanced electronic toll collection (ETC) system, which will eventually be installed on the entire expressway network.

The project will also upgrade 1.4 km of the ground-level port access road from four to six lanes, while a maritime facilitation centre will be constructed to provide better services to port users and relocate and gather the administrative and operational functions of the port, many of which will be affected by the construction of the elevated highway. The project also contributes to regional connectivity and trade, in line with SASEC’S goals.

Additionally, ADB will provide a $500,000 technical assistance for the Expressway Operations Improvement component of the project, which will strengthen the operational capacity of the expressway regarding its toll rate policy and the ETC system.