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Thursday Nov 14, 2024
Thursday, 31 August 2023 03:08 - - {{hitsCtrl.values.hits}}
Cabinet Co-Spokesman and Minister Bandula Gunawardena
The Government is inviting investors for an electric bus initiative on a Build, Operate, and Transfer (BOT) basis to introduce sustainable public mobility solutions within the Western Province.
Originally slated to encompass 50 electric buses, the pilot project is now set to scale up to 200 electric buses following the Cabinet of Ministers approval on Monday.
On 27 February, Cabinet initially approved it as a public-private partnership (PPP). However, challenges surrounding the investment costs of charging infrastructure rendered the project non-viable in its initial configuration. Later, based on feedback from experts and stakeholders underscored the feasibility of the project could be unlocked by increasing the scale to a range of 200 to 500 buses.
This initiative will be executed in collaboration with the state-run Sri Lanka Transport Board (SLTB), underscoring a collaborative approach to drive forward sustainable public transportation.
“The project will follow a BOT model over a designated period of years,” Cabinet Co-Spokesman and Transport Minister Bandula Gunawardena explained at the post-Cabinet meeting media briefing on Tuesday.
Highlighting the financial constraints faced by the Government to invest in electric buses, he emphasised that once the investors realise their returns, the assets will be transferred to SLTB.
“Investors from across the globe, including Korea, China, and the UK, are invited to express their interest and submit their proposed terms and timeframes,” he added.
Gunawardena said the Government aims to extend the reach of general transport facilities to additional routes, thereby maximising the project’s expected benefits.
“The introduction of electric buses will withdraw 200 fuel-run SLTB buses from the Western province, redirecting them to serve provincial routes,” he added.
