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India pledges US$ 1.3 bn for development of SL railway

28 January 2019 07:45 am - 5     - {{hitsCtrl.values.hits}}

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India has so far committed Lines of Credit worth around US$ 1.3 billion for development of railway sector in Sri Lanka, the Indian High Commission said yesterday.

The restoration of arterial railway lines, connecting the North and the South after decades of conflict, was undertaken under Indian concessional financing.

The tsunami-affected Southern Railway line was also upgraded under Indian Line of Credit. India has also supplied rolling stock to Sri Lanka and contributed to capacity building of Sri Lankan railway personnel.

India remains ready to assist Sri Lanka to meet its developmental aspirations as per Sri Lanka’s own requirements, the High Commission said.

In June 2017, India signed a fresh Line of Credit Agreement for US $318 million for the development of railway sector in Sri Lanka.

Under this Line of Credit, various projects are underway including procurement of 160 passenger coaches; up-gradation of railway track from Maho-Omanthai; up-gradation of signal and telecommunication system from Maho to Anuradhapura; and setting up of a Railway Workshop in Ratmalana, the Indian High Commission said in a statement.

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  Comments - 5

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  • Ugly Monday, 28 January 2019 08:55 AM

    The new Power Set from India which is deployed for "Utara Devi" to KKS is UGLY. The light Blue power Set from CHINA is very beautiful.

    MSD Monday, 28 January 2019 09:35 AM

    Beggars aren’t choosers

    Blair Monday, 28 January 2019 01:29 PM

    MOST IMPORTANT IS THE CAPACITY BUILDING OF RAILWAY PERSONNEL, WITHOUT THAT NOTHING WILL WORK PROPERLY.

    Ram Monday, 28 January 2019 02:13 PM

    Good gesture from our neighbor India. The issue is when the Railway always run at a loss how is the Government going to pay the line of credit loan

    Arnold Monday, 28 January 2019 02:45 PM

    I am sure our politicians are rubbing their palms already.


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