Friday Nov 22, 2024
Friday Nov 22, 2024
Thursday, 12 September 2024 03:53 - - {{hitsCtrl.values.hits}}
The Government has called for expressions of interest (EOIs) from private investors to develop six major railway stations in and around Colombo, including Kollupitiya, Bambalapitiya, Wellawatte, Kompanyaweediya, Dehiwala and Mount Lavinia.
“The move is part of a broader initiative to upgrade these stations through a public-private partnership (PPP) model,” Cabinet Spokesman and Transport Minister Bandula Gunawardana said at the weekly post-Cabinet media briefing on Tuesday.
He said under the PPP model, property belonging to the Railways Department will be leased on a long-term basis to private investors, who will be responsible for transforming the stations into modern “station plazas.”
These plazas are expected to enhance the infrastructure and amenities at the stations while generating revenue for the Government.
Gunawardana highlighted that the concept has already gained traction, with several EOIs submitted for the development of railway stations countrywide. One notable example is the Ella station, a popular tourist destination, which is being developed by Laksala, a state-owned enterprise.
“The Ella station has been beautifully redeveloped, and the Government benefits not only from land rent but also receives 5% of the turnover,” Gunawardana said, describing the profitability and viability of the station plaza business model.
He said the initiative is part of a broader effort to modernise the railway system and unlock the commercial potential of railway properties, improving services for commuters while creating new revenue streams for the Government.
