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.
The loan will finance Sri Lanka’s first rail-based, electrified urban mass rapid transit line. It will serve to connect the Colombo’s commercial hub with the administrative capital, and significantly reduce travel time in the most congested transport corridor in the country, and...Read more