Posted on 03.14.2019 by Chandana Sirimalwatte in Local News with 0 Comments
The loan agreement for construction of a light rail system which is to be commenced from Colombo Fort to Malabe was signed at the Finance Ministry last Monday the 11th.
A loan of US $ 1850 million from the Japan-based JICA will be provided to the Government of Sri Lanka at a rate of 0.1%.
This light rail system is being constructed by the Ministry of Megapolis and Western Development, as a solution to the heavy traffic in Malabe, Battaramulla, Rajagiriya and Borella Urban areas.
The light Rail line is planned to be finished by the end of 2024, and will have 16 stops.
It will be a chance to commuters to travel from Malabe to Colombo Fort in just 32 minutes, Ministry of Megapolis and Western Development said.