July 06, New Delhi: India and Sri Lanka on Tuesday have discussed various issues regarding overall development of railway network in the island nation during the Sri Lankan Minister of Development Strategies and International Trade Malik Samarawickrama's visit to India on 4-5 July.
Upgradation of signaling and telecommunication system and strengthening of existing railway line in Sri Lanka are some of the issues discussed when visiting Sri Lankan Minister met the Minister of State for Railways Manoj Sinha in New Delhi in the presence of senior railway and Ministry of External Affairs officials, according to a Press Trust of India report.
India has been extending concessional Line of Credit (LoC) to Sri Lanka to support various infrastructure projects including railways and so far it has extended US$ 1 billion of LoC for various railway projects.
Some of the railway projects being undertaken under LoC assistance are upgradation of the 118 km Coastal Railway track from Kalutara to Matara in Southern Sri Lanka including supply of rolling stocks, training and setting up of maintenance facilities was carried out under US$ 267 million concessional Line of Credit (LoC) assistance project by the Railways PSUs IRCON and RITES.
During Prime Minister Narendra Modi's visit to Colombo in March 2015, a fresh Line of Credit of US$ 318 million for railway sector projects was announced.