Sri Lanka budget 2022: railway land for private development

ECONOMYNEXT – Land owned by Sri Lanka railways will be offered for private developers for investment, Finance Minister Basil Rajapaksa said presenting a budget speech.

“I propose to obtain investments through public-private partnerships and local and international sources to implement mixed development projects comprising of shopping malls, financial services, hotels, office facilities, cinema halls, entertainment centres [and] apartments,” he said in a budget for 2022.

He said some lands owned by Department of Railways are currently not being utilized productively.

Sri Lanka Railways is one of the largest landowners in the country.

The railway department was set up by the British and it also has reservations. (Colombo/Nov12/2021)

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