Transforming Sri Lanka’s Railways India loans $14.90Mn for Maho-Anuradhapura Signalling System Project

The Contract for Design, Installation, Testing and  Commissioning of Signalling system for Sri Lanka Railways from Maho to  Anuradhapura (66 km) was signed between the Ministry of Transport and  Highways of Sri Lanka and IRCON Ltd yesterday in the presence of the  Minister of Transport and Highways of Sri Lanka Dr. Bandula Gunawardane  and Indian High Commissioner Gopal Baglay, a statement from the High  Commission said.  

The mentioned project is being executed under an Indian Line of Credit (LOC) at a cost of US $ 14.90 million.   

The High Commissioner stressed the significance of the  Signalling project for easing movement of the people, accelerating the economic recovery of the country and strengthening the cooperation  between the two countries. He highlighted that LOC for this project, in  the current situation, symbolises the continued desire of the Government  and the people of India to stand with the people of Sri Lanka.   

Minister Gunawardane thanked Prime Minister Shri Narendra  Modi and the Indian Government of India for supporting Sri Lanka in  multiple ways, especially during the economic crisis last year. It was  also pointed out that Sri Lanka Railway projects have received support  in the form of LOCs in recent times only from India.   

 Projects of over USD 1 billion in the Railway sector  have been completed under five Indian LOCs till date. IRCON Ltd, which  started its operations in Sri Lanka in March 2009, has completed several  projects in Sri Lanka with Indian assistance and has contributed  significantly towards rehabilitation and modernization of Sri Lanka  Railways, capacity building and employment generation.