Sat, 16 Oct 2021 Today's Paper

Colombo light rail MoU signed in South Korea

16 September 2021 09:59 pm - 8     - {{hitsCtrl.values.hits}}

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KCI Metro Link Korea Co and the GBK Consortium of more than 15 South Korean companies have signed a memorandum of understanding to undertake a feasibility study for a light rail line running north from Colombo to Bandaranaike International Airport and Negombo, along with an associated mixed use development.

The project is being backed by a US$500m loan from Export-Import Bank of Korea to Sri Lanka, with more than US$1bn of further funding expected to be raised from international investors, the Railway Gazette reported.

Speaking at the signing ceremony in Seoul, Sri Lanka’s ambassador Dr A Saj U Mendis said countries including South Korea and Malaysia had experienced rapid development owing to improved connectivity, and he believed Sri Lanka was now in similar position to South Korea 30 years ago and well positioned to receive foreign investment.

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  Comments - 8

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  • Sara W Thursday, 16 September 2021 10:03 PM

    This isn't Colombo light rail this is airport link

    Chux Thursday, 16 September 2021 10:09 PM

    Feasibility after feasibility what is happening why did the government stopped Japanese fu def project

    Dee Thursday, 16 September 2021 10:26 PM

    Ok. This is an airport shuttle.

    Ratnam, Former Jaffna Lawyer living in the USA Thursday, 16 September 2021 10:33 PM

    Sri Lankan Ambassador is saying that “Sri Lanka is now in similar position to South Korea 30 years ago” , this is absolutely right. But in 1948 Sri Lanka was in far better position to South Korea in every aspect, then South Korea was a backward country. From 1948 onwards it was the Sinhalese Politicians who ruined the country by suppressing the enterprising Tamil minority and focussing only on rice fields and Buddhism.

    Express Thursday, 16 September 2021 10:54 PM

    Why are they just wasting time and money for this airport shuttle???! just implement the japanese LRT project!!! These clowns just ruin everything..

    abc Friday, 17 September 2021 12:09 AM

    Just pack your bags and go!

    Lumbini Friday, 17 September 2021 05:57 AM

    Whatever is another loan. The government should have used the Japanese loan to built this if they don't want the previous light rail project.

    Anton Weerasinghe Friday, 17 September 2021 07:25 AM

    Old wine in a new bottle, when governments change development projects to change, Hope this will not be another unsustainable development project, like Nelum kuluna, airport and harbour


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