Sri Lanka's private transport sector to receive more Indian buses

Sri Lanka's private transport sector is to receive a boost with People's Leasing Company (PLC) ordering 1,000 Viking buses from India's Ashok Leyland at a cost of US$ 26 million to be sold to the country's private sector.

PLC CEO, D.P. Kumarage told the local media that the company was opening Letters of Credit (LCs) on a monthly basis valid till March next year.
PLC had in the past few years entered into seven agreements with Ashok Leyland to import 8,000 buses.
PLC's latest project to import 1,000 buses from India is partly funded by a US$ 40 million independent credit line with the Asian Development Bank (ADB).
Kumarage observed that there is a condition by the ADB on the credit line that part of the funding be utilized to uplift the transport sector in the North and East Provinces in the country. However, the requests received by PLC for buses that are to be imported from India have so far been received from various parts of the island.
The first shipment of 50 buses is expected to arrive in the country by the end of the month.
As for whether there is requirement for 1,000 buses to in the country's private transport sector, Kumarage said PLC has already received requests from 300 persons interested in purchasing the buses.
'There is a clear demand for buses in the private transport sector in the country' he said, adding the company was optimistic on selling all 1,000 buses.
Meanwhile, Hinduja group's flagship firm Ashok Leyland has said that the order for 1,000 buses from the PLC is its largest single order for buses from Sri Lanka.