Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Japan agrees to provide $1.86 billion to fund Light Rail Transit system in Colombo
Thu, Jan 3, 2019, 10:05 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 03, Colombo: The proposal made by Minister of Finance and Mas Media, Mangala Samaraweera to obtain the support of the Japanese International Cooperation Agency (JICA) for the construction of a light rail system in the Colombo city has received the Cabinet approval.

The Japan International Cooperation Agency has agreed to provide financial and technical assistance to establish a Light Rail Transit (LRT) System in Colombo in order to minimize the heavy traffic congestion existing in Colombo and its suburbs.

This LRT System has been designed to establish the connectivity between the major Administrative Hubs with commercial corridors and the densely populated residential areas situated adjacent to Colombo. This LRT System will also be developed so as to provide easy access to the Expressway Network and Multi-Model Transport Hubs.

Under the LRT System project, it has been planned to construct a LRT System 17 km in length with 16 Stations from the Multi-Model Transport Hub in Colombo Fort to Malabe Depot with an investment of JPY 246,641 million from Japan.

The Japan International Cooperation Agency has extended its willingness to grant JPY 200,415 million (US$ 1.86 billion) out of the total expenditure anticipated for the project.

The proposal made by Finance Minister to conduct loan Negotiations and to enter into a loan agreement for the purpose, was approved by the Cabinet.

 

ColomboPage - Recent 10 Stories ::
Proposal to include the Theravada Tripitaka into the Memory of the World Register of UNESCO presented
-- [54 minutes ago]
Sri Lankan government to ensure every citizen has own plot of land
-- [1 hour and 6 minutes ago]
Oman's Oil and Gas Minister arrives in Sri Lanka for ground breaking ceremony of Oil refinery in Hambantota
-- [3 hours ago]
Australian ships arrive in Sri Lanka for Indo-Pacific Endeavour 2019
-- [3 hours ago]
Pakistan's 79th National Day celebrated in Sri Lanka
-- [4 hours ago]
Engineering Nexus' fourth meetup: Open Source and Beyond Building Smarter QE Platforms
-- [5 hours ago]
Sri Lanka's sovereignty and independence protected in Geneva - PM
Navy arrests three persons with over 1500 kg of illegal Beedi leaves
SriLankan Airlines scores the second hat-trick at Golden City Gates Awards 2019
Human Rights Commission thanks Finance Minister for allocation of funds to make state buildings accessible to disabled

Copyright © 2000, 2016 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.