India Signs Agreement to Supply 160 Railway Passenger Coaches to Sri Lanka Under Concessional Financing

India Signs Agreement to Supply 160 Railway Passenger Coaches to Sri Lanka Under Concessional Financing

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Date of Post: 10 Sep, 2018

New Delhi: India has agreed to supply 160 railway passenger coaches to Sri Lanka valued at around 82 million US dollars under concessional financing. The agreement to supply coaches custom-made in India, was signed between RITES Ltd. of India and Sri Lankan government in Colombo on – 07 Sep 2018, in evening.

More Information:

  • The current contract is part of a LoC (Line of Credit) agreement for procurement of railway rolling stock and upgradation of rail tracks worth 318 million US dollars, which was signed between EXIM Bank of India and Government of Sri Lanka in June last year.
  • Procurements of rolling stock from India which underway include 6 DMUs, 10 locomotives, 20 container carrier wagons and 30 fuel tank wagons.
  • India has already completed projects close to 1 billion US dollars under concessional financing in the railway sector in Sri Lanka including railway lines to Jaffna and Thalai Mannar.
  • This project is in continuation of India’s efforts to partner with Sri Lanka in people-oriented connectivity projects in Sri Lanka.

To know more about recent developments of Indian Railways-

08 Sep, 2018 : Government Set To Divest 10% in IRCON International to Raise Rs 467 Crore

08 Sep, 2018 : Indian Railways undertakes various IT initiatives to improve train operations and provide better passenger experience

07 Sep, 2018 : Indian Railways has provided WiFi at 710 stations with high speed: Piyush Goyal


Author:

Narinder Sharma is a part of the content team of Rail Analysis India as a writer and marketing executive.
His interest is in the Railways , Metro and Transportation Sector of India .
Please reach us at editor@railanalysis.com for more information .


 

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