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The Colombo Light Rail Transit (LRT) project which is the first of its kind in Sri Lanka, would be constructed with the financial and technical assistance from Japan International Cooperation Agency (JICA), by the end of 2024 and would be ready for commercial operation by early 2025. The project is to be constructed with an estimated total investment of US$ 2.2 billion, where investments for direct costs is provided by JICA.

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A concessionary loan agreement for JPY 30,040 million (approx. Rs. 48 billion) was signed yesterday between the Government of Sri Lanka and Japan International Cooperation Agency (JICA) for engineering services and construction of a Light Rail Transit (LRT) line between Malabe and Colombo Fort.

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On March 11, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Democratic Socialist Republic of Sri Lanka in Colombo to provide a Japanese ODA loan of up to 30.04 billion yen for the Project for Establishment of Light Rail Transit System in Colombo (I).

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The Government of Japan has agreed to grant loan assistance of USD 1,800 million for the Light Rail Transit System (LRT) project that is to be implemented this year as a solution for the traffic congestion on Colombo city and suburbs, the Ministry of Finance stated, issuing a press release.

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