The Loan Agreement for the Stage 2 Phase II Development Project of Bandaranaike International Airport was signed by Mr. Prasanna J Wickramasuriya, Chairman, AASL and Mr. Akira Shimura, Chief Representative of JICA Colombo Office on 28 March 2012 at the Treasury.

Airport & Aviation Services (Sri Lanka) Limited, created history by being the first Fully Government Owned Business Organization to receive a Japanese ODA loan for a project in Sri Lanka.

The Government of Japan will provide Japanese Yen 28,969Mn for the Development of the Stage 2 of Phase II of BIA under the 42nd Yen Loan Package. The scope of the above project includes construction of a state of the art multi level terminal building with 8 boarding gates, parking apron with 9 aircrafts stands, improvements to utilities etc.

BIA handled 6.14Mn passengers in 2011. The Development Project is to commence in December 2012 and due to be completed by December 2015. With the completion of the project, BIA would have an additional 6 million passenger handling capacity.

This project also symbolizes the establishment of 60th Anniversary of the Diplomatic relationship between Governments of Sri Lanka and Japan and Japans long term corporation in Sri Lanka's development projects.

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