India has approved a USD 318 million loan for Sri Lanka Railways. The money will be used to upgrade Sri Lanka Railways’ communications system and rolling stock in the north.
The projects include improving the signal system from Maho to Anuradhapura in the north central province and from Anuradhapura to Omanthai in the north. Sri Lanka Railways will also buy six power sets with air-conditioned carriages, 10 engines and 160 carriages, 30 wagons with oil tanks and 20 container carrying wagons.
The Cabinet had approved a proposal by Prime Minister Ranil Wickremesinghe to enter into an agreement with Exim Bank of India for the loan.
Share on:
