Business · Sri Lanka Bureau
Sri Lanka green-lights Rs25.6bn contract for Sethsiripaya III completion
The government has approved a substantial financial commitment to resume construction of the Sethsiripaya III administrative complex, which stalled after reaching three floors during the country's recent economic crisis.
LSN Sri Lanka ·
Sri Lanka has formally approved a Rs25.6 billion deal with Maga Engineering to advance work on the Sethsiripaya III project, signalling renewed efforts to complete the landmark administrative facility in the capital.
Construction on the complex began in 2021 and progressed steadily until economic disruptions forced work to halt after three floors had been completed. The project, part of the government's infrastructure development agenda, had remained suspended during the period of macroeconomic strain that affected the nation's public sector spending.
The approval of the contract with Maga Engineering represents a commitment to restart the stalled initiative and bring the facility to completion. Officials have indicated that resuming work on major infrastructure projects forms part of broader efforts to restore economic stability and demonstrate progress on key developmental initiatives.
The Sethsiripaya III complex is expected to house additional administrative facilities once fully constructed. The exact timeline for project completion and the scope of work covered under the new contract have not been detailed in official announcements.