Sri Lanka and India are to enter into a Private Public Partnership (PPP) to further develop the Sooriyawewa Cricket Stadium where the construction work has caused the sate heavily, informed government sources said.
This will come following the PPP between India and Sri Lanka to develop the International Airport in Mattala.
Sources said several hotels will be constructed in Kataragama, Wellawaya and Hambantota once the two projects get off the ground.
This construction had been done as a variation order by the contract of Hambanthota Port construction.
According to the books of accounts of Board of Control for Cricket in Sri Lanka the a sum amounting to Rs.5,838 million with the interest of Rs.2,881 million had be paid to the contractor as at 31 December 2016.
Two parties had been came to an agreement on 29 December 2017 paying a sum of Rs.2,957 million for expenses for construction contract and a sum of Rs.993.8 million for interest totaling to Rs.3,950.8 million and close the transaction on a decision of international tranquility.
Non paying sum of Rs.993.8 million at the due date to the contractor has compelled the authorities topay interest expense..
The stadium had been constructed for the Sri Lanka Cricket Board not entering into a proper agreement with that institution and the construction cost and interest incurred have not been agreed by the Sri Lanka Cricket Board.
But the General Treasury has agreed to pay that money and that construction and interest cost had become a expenditure burden to the General Treasury.