Megalopolis LRT system funded by Japan
• A high level delegation from the Japanese Government concluded a visit to Sri Lanka yesterday.
• The visit follows Cabinet approval for Light Rail Transit (LRT) system proposed in the Megalopolis plan, and a formal request from Sri Lanka to Japan for concessional financing for the project.
• “We can now put the debate on monorail vs LRT behind us, and move forward aggressively to get this project implemented.”
The delegation, led by Japan’s Vice Minister Economy, Trade and Industry Hirofumi Katase confirmed their government’s willingness to finance Sri Lanka’s landmark project on deeply concessional terms.
The decision was conveyed following high level discussions with Sri Lanka Government officials on July 26, followed by a meeting with the Cabinet Committee on Economic Affairs on 27.
The two governments have agreed to expedite the detailed technical feasibility in order to initiate the physical implementation of the LRT as soon as possible.
“Confirmation of support from Japan for this critical investment under the Megalopolis plan marks a major milestone” said Ajita de Costa, Chairman of the Western Region Megalopolis Project.
Once again Japan has come forward to fund yet another landmark project in Sri Lanka.
When the Rupavahini Corporation was gifted to Sri Lanka on the 15th of February 1982, it was the buzz of the times and people started pouring in to shops to buy TV’s.
Simply, it changed the culture of Sri Lanka and connected the villager to the rest of the world for the 1st time.
Everything from fashion to education took off and the country jumped on the bandwagon to get globalized.
OSL being the leading private FDI generating force now calls potential Japanese investors to partner with us to explore the 140 mega-projects outlined in the Western Region Megapolis Masterplan (WRMM) with our local opportunity matchmaking expertise.
Talk to the biz-friendly OSL Team right now.
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