Sri Lanka will transfer expressways, land and local debt to a separate state owned enterprise, called Sahasya Investments Limited, following a cabinet decision.

“The daily administration and management will be transferred to Sahasya Investment Limited from April 1 through an agreement,” Cabinet spokesman Minister Bandula Gunawardena said.

“Then after a legal and financial feasibility study is conducted jointly by the RDA and Sahasya Investment Limited, all properties will be transferred within six months.”

The transfer of expressway is part of the restructuring of Road Development Authority, Minister Gunawardana said. “No staff will lose their jobs or perks.”

Sahasya Investment Limited is a company owned by the government and established in 2020.