Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Chinese company secures US$ 600 million Sri Lanka rail contract
Mon, Mar 10, 2014, 11:24 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 10, Colombo: A leading Chinese engineering contractor, China National Machinery Import & Export Corporation (CMC) has secured the contract to extend Sri Lanka's Southern Railway Line from Beliatta to Kataragama.

The US$ 600 million project will be funded by a loan from the Exim Bank of China.

Sri Lanka Transport Minister Kumara Welgama has said the decision to grant the contract to CMC was taken as the Exim Bank has agreed to grant a loan for the project, according to a report by Sunday Times.

The Minister has said that another reason was that the same construction company carried out the harbor and airport projects.

The extension of the new railway line from Matara to Kataragama will be carried out in three phases - Phase I from Matara to Beliatta, second phase from Beliatta to Hambantota and third phase from Hambantota to Kataragama.

In 2010, using Chinese government's preferential buyer's credit, the company has successfully undertaken the first phase of the Southern Railway Line extension project to construct the 28 kilometer segment from Matara to Beliatta with the contract value of approximately US$278 million.

Presently, the project has officially entered a substantive stage of implementation, CMC says.

The project is the first Engineering, Procurement, Construction (EPC) railway engineering contracting project undertaken by a Chinese company in Sri Lanka.

The Sri Lankan government expects the demand for transport between the Southern Province and other provinces of the country to increase due to rapid developments in the Southern region and operations of the Hambantota Port and Mattala Airport. The project is scheduled to be completed by 2016.

** Related Story :: Sri Lanka to extend southern railway line to Kataragama with US$ 278 million loan from China

ColomboPage - Recent 10 Stories
Sri Lankan fishermen alleged of attacking Tamil Nadu fishermen
-- [4 hours ago]
Global health leaders adopt 'Colombo Statement' on migrant health
-- [5 hours ago]
Human Rights Watch calls on UNHRC for a follow-up resolution on Sri Lanka
-- [6 hours ago]
Sri Lanka President calls on countries to work together on issue of illegal migrants
-- [7 hours ago]
Sri Lankan PM says local investments are not sufficient to ensure development
-- [8 hours ago]
Singer Sri Lanka Group revenue increases 21% to Rs. 46.9 bn
-- [8 hours ago]
U.S. Congressional delegation applauds achievements of Sri Lanka's unity government
-- [9 hours ago]
Sri Lanka Customs nab man attempting to smuggle gold worth Rs. 2.4 million
Sri Lanka Navy, police operation arrests 18 illegal migrants bound for New Zealand
Sri Lanka's Colombo Port ranked among the world's best 25 ports

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.