The Ministry of Megapolis and Western Development has signed a memorandum of understanding (MoU) with the Japan International Cooperation Agency (JICA) for the construction of a Light Rail Transit (LRT) system, a short while ago.
A concessionary loan of USD 1.6 billion would be provided by JICA for the construction of the LRT project which is expected to span 17 kilometres.
This is the final concessionary loan that would be provided by JICA to Sri Lanka, Megapolis Secretary Nihal Rupasinghe told Times Online adding that the LRT system would operate across 21 stations between Malabe to Fort.
The MoU was signed between Mr. Rupasinghe and a JICA official at the premises of the ministry today.
(Reporting by Damith Wickramasekara)
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