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Message: <blockquote data-quote="saraprobe" data-source="post: 853823" data-attributes="member: 13914">Oct 08, 2007 (LBO) – A new elevated highway connecting Colombo's Fort areas with Malabe, a fast developing suburb will cost nearly 40 billion rupees, a Malaysian firm that is charged with studying its feasibility has said.Meanwhile a senior Sri Lankan official said the priority now was to push through a light rail project for which India's NEB Rapid, a consultancy was given a letter of intent earlier this year.The light rail would run from Colombo southwards to Panadura along the coast and inland to Battaramulla, which along the road to Malabe.Sithru (M) Sdn Bhd and PJI Holdings Bhd, two Malaysia firms have just formed a joint venture to develop and submit a feasibility to the Sri Lanka government for the Fort Malabe highway.Malaysia's The Star newspaper said the Sri Lanka highways minister Jeyaraj Fernandopulle was in Kuala Lumpur Saturday to witness the inking of the joint venture deal.The 17 kilometer highway would cost 350 million US dollars (39.7 billion Sri Lanka rupees) Sithru had told reporters.The highway is expected to run "overhead as well as underground," PJI Holdings, a listed firm, said earlier in a stock exchange filing in Kuala Lumpur.“We hope to start the project by early next year,” Sithru Managing Director S. Thiruneelakanda was quoted as saying Saturday by The Star newspaper.If the feasibility is accepted by the government, the joint venture is expected to be given the first right of refusal to build the highway, PJI has said.Thiruneelakanda said Sithru and PJI would try to employ Sri Lankan contractors and consultants as much as possible to keep costs down and also because they had more local knowledge. <a href="http://www.lbo.lk/fullstory.php?newsID=663943373&no_view=1&SEARCH_TERM=7" target="_blank">LBO</a>This is gonna be awesome, elevated toll road & Rail line<img src="/styles/default/xenforo/smilies/default/yes.gif"  class="smilie" loading="lazy" alt=":yes:" title="Yes    :yes:" data-shortname=":yes:" /> <img src="/styles/default/xenforo/smilies/default/yes.gif"  class="smilie" loading="lazy" alt=":yes:" title="Yes    :yes:" data-shortname=":yes:" /> <img src="/styles/default/xenforo/smilies/default/yes.gif"  class="smilie" loading="lazy" alt=":yes:" title="Yes    :yes:" data-shortname=":yes:" /> Australian Report PJI Holdings Bhd (KLSE:7122) and its partner Sithru (M) Sdn Bhd have jointly won a US$350 million contract to build a 17km highway in Sri Lanka.The Sri Lanka government recently awarded a letter of intent for the project to Sithru.ADVERTISEMENTPJI and Sithru will complete a feasibility study for the four-lane highway between Galle Face and Malabe in Sri Lanka in one and a half months.They are expected to begin the construction of their US$350 million highway project early next year, Sithru's managing director S. Thirunaalakanda told a news conference on the project Saturday.PJI and Sithru will each have 50 per cent stake in the project.In a statement to Bursa Malaysia, PJI said its wholly-owned subsidiary, PJ International Ltd, has entered into a Memorandum of Agreement with Sithru.It said if the feasibility study is accepted by the Sri Lankan Government, and if it decides to go ahead with the project, the first right of refusal will be given to Sithru/PJI JV to submit detailed design for the facility and construction schedule and financing plans for consideration and due approval.<a href="http://au.news.yahoo.com/071008/3/14met.html" target="_blank">Yahoo.com.au</a></blockquote>

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