The Sri Lankan government last week signed an agreement with China Metallurgical Construction Group to construct the Colombo-Katunayake expressway funded by China.
The Chinese government owned company will be engaged in funding, planning, designing and constructing the 25.6 km long expressway at a cost of US$ 310 million.
In terms of the agreement, construction is to begin within 60 days and the project completed by 2012.
The four-lane expressway between Colombo and Katunayake will have two interchanges at Kerawalapitiya and Peliyagoda, which is expected to reduce the travel time from Colombo to the airport to 20 minutes.
Prior to the signing of this agreement, there were many false starts to the construction of the Colombo-Katunayake expressway. The foundation stone for the Colombo-Katunayake expressway was first laid in 1967.