Projects worth US$ 5 bn in construction sector this year

The magnitude of the foreign investments in the construction sector is expected to increase up to US$ five billion from US$ three billion with the development plans made under Prime Minister Mahinda Rajapaksa.

Urban Development and Housing Ministry Secretary Sirinimal Perera said the Urban Development and Housing Ministry together with the Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness State Ministry has implemented a strategic plan to increase the number of foreign investments the country will receive within this year.

This was revealed at a progress review meeting held at the Urban Development and Housing Ministry recently.

Accordingly, US$ five billion is expected to be achieved through 42 development projects and the final evaluation study in this regard is being carried out these days, the Secretary further said.

Once it is completed within the next two months, the final evaluation study will be submitted to the Investment Committee, Perera said. Secretary Perera said President Gotabaya Rajapaksa has instructed him to take action to complete all investment projects before December 31, this year.

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