Govt. gets JICA loan for Pettah-malabe LRT

The Japan International Cooperation Agency (JICA) granted a loan of USD 1,850 million (1.8 bn) to Sri Lanka to establish the Light Railway Transit (LRT) from Malabe to Pettah.

The agreement for the loan, which is given at a concessionary interest rate, was signed earlier this week at the Ministry of Finance.

The new railway system coordinated by the Ministry of Megapolis and Western Development was considered one of the many measures taken by the government to introduce alternative methods of transportation to citizens in the face of increasing traffic congestions experienced in Colombo and its suburbs, an official said.

Scheduled to be completed by 2024, the Malabe-pettah Light Railway Transit consists of 16 stations.

Stretched across 17 Km, the new line will have a travel time of 32 minutes from Malabe to Pettah.

The Cabinet Approval was received to establish seven lines under the new system, with the Malabe-pettah stretch identified as a priority.