News

India monitors projects executed in Sri Lanka under LoC

17 Feb, 2017

A team from Export-Import Bank of India have monitored the progress of projects being executed in Sri Lanka under the Government of India Lines of Credit (LoC), particularly in the railway sector, the Indian High Commission in Colombo said today.

The team visited sites of the Northern Railway Rehabilitation Project, including Kankesanthurai Railway Line, Omanthai – Pallai railway line, Talaimannar – Madhu Road Railway Line, Medawachchiya – Madhu Road railway line, etc., apart from evaluating the signaling and telecommunication system installed under the LoC.

The?Government of India has provided concessionary credit facilities amounting to about US$ 800 million to the Government of Sri Lanka to undertake the Northern Railway Rehabilitation Project. IRCON International implemented the project, including track upgradation and setting up of signalling and communication infrastructure.

The team also called on Minister of Transport and Civil Aviation, Nimal Siripala De Silva and senior officials in Sri Lanka Railways, Ministry of Transport and Civil Aviation, Department of External Resources, Ministry of National Policies and Economic Affairs, etc.

India says it remains committed to strengthening its bilateral relationship with Sri Lanka, including through closer economic ties, enhancing connectivity and other linkages, and continued development partnership. (Colombo Gazette)

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