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Sri Lanka Equity Forum » Stock Market Talk » Finally decided - Light Rail Transit (LRT) from Fort to Malabe

Finally decided - Light Rail Transit (LRT) from Fort to Malabe

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Chinwi

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Associate Director - Equity Analytics
Associate Director - Equity Analytics
Sri Lanka’s government confirmed that the Japanese government will fund the islands proposed Light Rail Transit (LRT), ending a debate on monorail vs. LRT following the conclusion of a high level delegation visit from Japan, Thursday.

The delegation, led by Hirofumi Katase the Vice Minister for Economy, Trade and Industry of the Government of Japan confirmed their government’s willingness to finance Sri Lanka’s landmark project on deeply concessional terms.

“The two governments have agreed to expedite the detailed technical feasibility in order to initiate the physical implementation of the LRT as soon as possible.”

The initial investment is to cover around 25km from Colombo to Malabe : connecting Fort, Kollupitiya, Bambalapitiya, Borella, Maradana, Rajagiriya, Battaramulla and Malambe.

The initial segments of the LRT system to come up will be elevated, given the high density of existing development, the statement added.

LBO.LK

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