South Korea to fund Kandy urban area by-pass tunnel project

• Economic Development Co-operation Fund of Korea to provide $ 199.27 m
• Total project cost estimated at is $ 252.30 m

Cabinet this week approved a proposal by Minister of Roads and Highways Johnston Fernando to commence the procurement activities pertaining to the construction of a by-pass tunnel in the Kandy urban area, for which the Economic Development Cooperation Fund of Korea has agreed to provide financial facilities amounting to $199.27 million.

The by-pass tunnel has been mooted as a solution to vehicle congestion in the Kandy urban area, a project whose total estimated cost is $252.30 million.