he Sri Lankan government says China will provide a $278.2 million loan for a rail extension project on the island country's Southern province. The loan will be used to extend the railway line from Matara to Kataragama, an announcement on a government website stated. The 71-mile extension will be in three phases, from Matara to Beliatta, from Beliatta to Hambantota and from Hambantota to Kataragama. Officials said it should be completed by the end of 2014. The loan will come through the Export-Import Bank of China, the Sri Lankan Finance and Planning Ministry announced. Terms include an annual interest of 2 percent with repayment over 20 years, including a 5-year grace period. The project will involve constructing bridges over rivers, viaducts required over the Nilwala River flood plain, railroad crossings, road diversions, four railway stations and ground treatment. The government said it expects demand for rail transport between the Southern and other provinces of the country to increase due to rapid development and operations at the Hambantota port and a new airport coming up. The Hambantota port, opened in 2010, was built with Chinese assistance. The rail project will help provide clean, efficient and economical transport service to facilitate commuter and cargo transport between Colombo and Kataragama, the report said.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor