The Japan International Cooperation Agency (JICA) signed a loan agreement on 11th March 2019 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 (US$ 0.27 billion) for the Project for Establishment of Light Rail Transit System in Colombo.
The objective of the project is to boost the transportation capacity and improve the safety and comfort of public transportation by introducing a light rail transit (LRT) system with 16 stations distributed over 15.7 kilometers of track in and around Colombo. By doing so, the project aims to improve the urban environment through a reduction in air pollution and other traffic pollution and to stimulate socioeconomic activities in the area.
Special Terms for Economic Partnership (STEP) will apply to the Japanese ODA loan for this project, and Japanese technology, including rolling stock and electromechanical equipment for the LRT, will be utilized in the project.
Country updates
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December 10, 2018
Surbana Jurong and Mitsubishi Corporation to set up fund management company
Surbana Jurong Capital, the newly established financial services arm of Surbana Jurong and Mitsubishi Corporation signed an agreement to set up a fund management company (FMC). The FMC will be a 50:50...
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August 19, 2018
RFEOI for the East Container Terminal and Bandaranaike Quay revamping announced
It has been recently confirmed that the Government is set to improve infrastructure, shipping and naval services through public private partnerships (PPPs) at the East Container Terminal and...
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July 02, 2018
CM Port pays final $ 584 m for Hambantota Port
China Merchant Port Holdings Limited (CM Port) has released the final tranche of payment for the Hambantota Port. The move marks the single highest ever Foreign Direct Investment (FDI) recei...
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June 10, 2018
It has been announced that China Merchants Port Holding´s last tranche of US$585 million has been held back
It has been announced that China Merchants Port Holding´s last tranche of US$585 million has been held back. The company wants to use a man-made island for entertainment purposes. Opposition leaders h...
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June 05, 2018
Sri Lankan government approves US$800 million rail PPP
The Sri Lankan Cabinet has approved the launching of tenders for the construction of new railways in the Hambantota district of the country on a build-operate-transfer (BOT) basis. ...
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