June 13, Colombo: The Sri Lankan government is planning to obtain US$ 48.67 million from Standard Chartered Band upon the aid of Canada Exports Development Institute to purchase 12 railway engines to service the upcountry railway line.
The Cabinet has granted approval earlier to purchase 12 locomotives for the Sri Lanka Railway Department in order to improve the operational capacity of the upcountry railway line.
The train engines will be procured from the General Electric Company in the United States at a cost of US$ 4.056 million each as per the recommendation of the Standing Cabinet Appointed Procurement Committee (SCAPC).
Accordingly, the proposal made by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs, to enter in to an agreement for the provision of USD 48.67 million, from Standard Chartered Band upon the aid of Canada Exports Development Institute, was approved by the Cabinet of Ministers.
Also, the government has taken steps to purchase 160 passenger carriages under Indian loan assistance. The cost of this project is US$ 82.63 million.