Written by Staff Writer
12 Mar, 2019 | 10:41 am
COLOMBO (News 1st) – The government has decided to launch a light rail transit system in Colombo and the suburbs.
According to the Finance Ministry, Japan has agreed to provide a loan of US$ 1850 mn for the project. The cabinet has approved the project. The loan is at 0.1% interest payable over 40 years and with a grace period of 12 years.
The proposed light rail system has been designed on a 17 km elevated rail track including 16 stations to cover important and major intersections from Malabe to Colombo Fort. It is expected to ease traffic in Colombo and its suburbs and will establish connectivity among several administrative complexes, commercial hubs and densely populated residential areas.
The project is scheduled to commence this year.
05 Nov, 2019 | 10:46 PM
23 Oct, 2019 | 04:52 PM
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