Sri Lanka will ask China’s Exim Bank for US$ 72 million or Rs. 9.1 billion more to complete the new showpiece Mattala International Airport in Hambantota.Now under construction, the airport has already cost the Government US$$ 209 million or Rs. 26.6 billion, of which US$ 190 million or Rs. 24.2 billion has come from the Exim Bank of China. According to a memorandum submitted to the Cabinet by Civil Aviation Minister Priyankara Jayaratne, extra money is required for two purposes. One is the “cost on additional works” amounting to US$ 45.5 million or Rs. 5.7 billion. The other is described as “price escalation” amounting� to US$ 26.5 million or Rs 3.3 billion. Mr. Jayaratne has sought approval from his ministerial colleagues to request a proposal from the China Harbour Engineering Company Limited to “design and build additional work”. Whilst recommending that the contract value of the project be enhanced, he has also asked to “obtain supplementary loan from China Exim Bank” to meet the additional financial commitment.]]>

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