Sri Lanka's government is seeking nearly 150 million U.S. dollars in additional funding from china to complete work on its second international airport that was initially valued at 209 million U.S. dollars, local media reported here on Monday.
Sri Lanka's Civil Aviation Minister Priyankara Jayaratne has reportedly sought Cabinet approval to obtain an additional loan from EXIM Bank, China for the Mattala Rajapaksa International Airport (MRIA).
Jayaratne has forwarded the memorandum to Cabinet as some areas need to be extended at the MRIA, the local media reported.
The additional funding has been requested after taking into consideration the increase in the prices of building and other materials.
Accordingly, the initial contract fee for MRIA has increased from 209 million U.S. dollars to 356.9 million U.S. dollars.
Jayaratne has stated in the Cabinet memorandum that additional tracks should be constructed in the airport.
Luciano Technic Ltd., together with SriLankan Airlines, is engaged in the construction, and has requested the ministry to provide an aircraft hangar and some other facilities in the southern side of the airport.
MRIA, which is named after Sri Lanka's president, has only one international airline operating out of it at the moment, other than the national carriers. It was opened in March this year.