Sri Lanka, Jan. 20 -- The Cabinet of Ministers has approved the awarding of a contract to Maga Engineering (Pvt) Ltd to complete the construction of 300 housing units at Arunodaya Mawatha, Obeysekarapura in Rajagiriya.

The project, which is part of a broader initiative to construct 4,074 housing units funded by a USD 200 million loan from the Asian Infrastructure Investment Bank (AIIB), had faced delays due to the previous contractor's failure to deliver.

Consequently, the government cancelled the original agreement and called for new bids under a national competitive bidding process.

Following the recommendation of the Standing Cabinet Appointed Procurement Committee (SCAPC), the proposal submitted by the Minister of Transport, Highwa...