The Contract for Design, Installation, Testing and Commissioning of Signalling system for Sri Lanka Railways from Maho to Anuradhapura (66 km) was signed between the Ministry of Transport and Highways of Sri Lanka and IRCON Ltd yesterday in the presence of the Minister of Transport and Highways of Sri Lanka Dr. Bandula Gunawardane and Indian High Commissioner Gopal Baglay, a statement from the High Commission said.
The mentioned project is being executed under an Indian Line of Credit (LOC) at a cost of US $ 14.90 million.
The High Commissioner stressed the significance of the Signalling project for easing movement of the people, accelerating the economic recovery of the country and strengthening the cooperation between the two countries. He highlighted that LOC for this project, in the current situation, symbolises the continued desire of the Government and the people of India to stand with the people of Sri Lanka.
Minister Gunawardane thanked Prime Minister Shri Narendra Modi and the Indian Government of India for supporting Sri Lanka in multiple ways, especially during the economic crisis last year. It was also pointed out that Sri Lanka Railway projects have received support in the form of LOCs in recent times only from India.
Projects of over USD 1 billion in the Railway sector have been completed under five Indian LOCs till date. IRCON Ltd, which started its operations in Sri Lanka in March 2009, has completed several projects in Sri Lanka with Indian assistance and has contributed significantly towards rehabilitation and modernization of Sri Lanka Railways, capacity building and employment generation.