“Opening the Kohuwala flyover is a good news from debt restructuring”

The newly constructed flyover at the Kohuwala intersection aiming to ease traffic on the Colombo–Horana road was commissioned yesterday by Prime Minister Dinesh Gunawardena at the invitation of Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana.

The flyover was built by the Betonutepito Company in Hungary under the full supervision of the Road Development Authority (RDA) attached to the Transport and Highways Ministry.

Access Engineering Company acted as the Hungarian company’s Sri Lanka representative. The construction of this flyover was started on August 16, 2021. The length of this flyover is 254 metres and the width is 9.4 metres. An amount of Rs. 3,599 million has been spent for this project.

Members of Parliament Premanath C. Dolawatta and Yadamini Gunawardena, former Minister Sunethra Ranasinghe, Secretary to the Ministry of Transport and Highways Ranjith Rubasinghe, Road Development Authority Chairman Chaminda Athaluvage, Road Development Authority Director General Priyantha Suriyabandara, Development Lotteries Board Chairman Ajith Naragala, resident representative of the Betonutepito Company in Hungary Karoli Singhal and others joined.

“A good era began in this country with the commissioning of this flyover since all the projects related to highways, bridges and roads were completely stopped in the last period. The reason for that is that all these projects were commenced by taking loans both domestically and abroad. The Hungarian government had provided financial support for the Kohuwala bridge and the Gatambe bridge. The Sri Lankan government cannot bear the massive funds to be spent for this bridge.

“But, after we defaulted and announced to the world that we could not pay the debt, all the countries and organisations of the world stopped lending to us. At that time, IMF staff and the Sri Lankan authorities reached a staff-level agreement to support Sri Lanka’s economic policies.

“The government led by the President, with the assistance of the Central Bank, the Ministry of Finance, and international experts signed several agreements for debt restructuring. The Kohuwala flyover was opened to the public today as a result of the several agreements for debt restructuring. Otherwise this project could not be possible.

“Our Ministry is still discussing with the Hungarian authorities to obtain loan assistance to commence the construction of the Gatambe flyover. The Finance Ministry is making arrangements for that. We hope that we will be able to start work on the Gatamba flyover very soon. If the debt restructuring agreement is not implemented in that way, no matter which government comes to power, no matter which President comes to power, it is impossible to run the country. As a result of moving the country according to the debt restructuring agreement, the inconvenience caused to the people of this region for a long time was averted with this flyover.”

MP Premanath C.Dolawatta said that the country is receiving foreign aid because of the debt restructuring agreement. Today we have been able to move forward in development projects due to this, he said.

Resident Representative of the Betonutepito Company in Hungary Karoli Singhal said it is good to see the completion of the work of this flyover. Now everyone can use this flyover. “I am happy to say that we are moving forward with these projects due to the debt restructuring process with the IMF and the signing of the Memorandum of Understanding with the Paris Club. We have started discussions with the Sri Lankan government and China’s EXIM Bank. If this discussion is successful, we are able to get the loan again and continue the work on the Kandy Gatambe flyover.”

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