{"id":44124,"date":"2015-05-24T00:26:48","date_gmt":"2015-05-24T07:26:48","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=44124"},"modified":"2015-05-24T00:26:48","modified_gmt":"2015-05-24T07:26:48","slug":"sri-lankas-govt-cuts-30-pct-cost-on-chinese-financed-och3-through-work-scope-reduction","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2015\/05\/24\/sri-lankas-govt-cuts-30-pct-cost-on-chinese-financed-och3-through-work-scope-reduction\/","title":{"rendered":"Sri Lanka\u2019s govt cuts 30 pct cost on Chinese financed OCH3 through work scope reduction"},"content":{"rendered":"<h2 class=\"entry-header\"><span style=\"color: #0000ff;\"><em>Courtesy Lanka Business online<\/em><\/span><\/h2>\n<div class=\"entry-content\">\n<div class=\"cresta-share-icon third_style\">May 21, 2015 (LBO) \u2013 Sri Lanka\u2019s Highway ministry said that it has reduced the cost of Outer Circular Highway (OCH) phase 3 by 30 percent to 24 billion rupees through removing of the provision to expand to four lane road to six lanes in 2027.<\/div>\n<p>However the ministry will stick to the Rajapakse Regime\u2019s plan on four lane highway, but will not give nod to expanding OCH 3 to six lanes as it was based on traffic projection reports which the ministry says that have found been exaggerated during the initial planning stages.<\/p>\n<p>According to the traffic forecasts prepared during the former regime, traffic was expected to increase by 14 percent on average per annum from 2017-2022 and by 10 percent on average per annum from 2022-2027.<\/p>\n<p>The vehicle registration during that same period was expected to only increase by 6 percent on average per annum.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"attachment-single_thumb wp-post-image\" src=\"http:\/\/www.lankabusinessonline.com\/wp-content\/uploads\/2015\/05\/OCH3.jpg\" alt=\"OCH3\" width=\"660\" height=\"440\" \/><\/p>\n<p>The ministry appointed three member review committee on the project is of the opinion that a six lane highway would be underutilised and provisions for an expansion are an unnecessary accumulation of cost.<\/p>\n<p>The removal of the provision to expand to six lanes will ensure a reduction in the cost of the construction of expensive structures such as the viaducts and embankments.<\/p>\n<p>The committee, considering the expert opinion of a review panel appointed by the University of Moratuwa, found that the project under its current cost was economically unfeasible,\u201d a statement said.<\/p>\n<p>The committee is also of the opinion that the construction material, which was to be provided by the contractor, is between 20%-30% above market rate.\u201d<\/p>\n<p>Due to contractual obligations signed by the former regime, the government will obtain the loan of 66.7 billion rupees from the Exim Bank of China.<\/p>\n<p>The savings accumulated from the reduction of the cost of this project would be redistributed into the upcoming road projects.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Lanka Business online May 21, 2015 (LBO) \u2013 Sri Lanka\u2019s Highway ministry said that it has reduced the cost of Outer Circular Highway (OCH) phase 3 by 30 percent to 24 billion rupees through removing of the provision to expand to four lane road to six lanes in 2027. However the ministry will stick [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-44124","post","type-post","status-publish","format-standard","hentry","category-forum"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/44124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=44124"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/44124\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=44124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=44124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=44124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}