Colombo: The Indian government has decided to extend a USD 425 million credit line to Sri Lanka to develop its war-damaged rail tracks in the northern region.
The Indian government has conveyed to the Sri Lankan government of its decision to extend a Line of Credit of USD 425 million for three projects, a press release from the Indian High Commission in Colombo.
The assistance is given for laying of railway tracks by the Indian Railway Construction Company Limited (IRCON).
According to the press release IRCON will be laying track on the Omanthai-Pallai sector of the Northern railway line and Madhu- Thalaimannar sector.
The railway system in Northern Sri Lanka was completely destroyed by the terrorist activities of LTTE. The construction of the northern rail line up to Omanthai is nearing completion.
The cost of reconstructing the rail line up to Kankasanthurai in Jaffna is estimated at USD 2 billion
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