Cabinet approves proposal to sign deal on light rail project

Cabinet approved the proposal presented by Minister of Finance and Mass Media Mangala Samaraweera to discuss and sign an agreement on the financing of the project. The loan agreement was to be signed by end of 2018 but it was put off as a result of the political crisis.JICA was expected to complete detail design of the project this year and civil work was to commence in 2020. Commercial operations were expected to start by 2025. (Colombo Gazette) The cabinet has approved a proposal to discuss and sign the financing agreement for the Colombo Light Rail project.Under the project a 17 km long light rail transit system will be constructed between Colombo and Malabe. The project will be constructed at a cost of 246,641 million Japanese Yen with the Japan International Cooperation Agency (JICA) providing a loan of 200,415 Japanese yen. read more