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Indian Funding For Northern Railway Line

Aug 17, 2010 9:35:21 AM - thesundayleader.lk

An Indian credit line funding of US$ 81.3 million has been granted for the construction of the Northern railway line between Medawachchiya and Madhu Road.
The commercial agreement for the construction 43 kms railway line between Medawachchiya and Madhu Road was signed today (17) in the presence of Transport Minister Kumar Welgama and Indian High Commissioner Ashok K. Kantha at the Transport Ministry.
According to Kantha, the US$ 81.3 million line of credit is part of a larger package of assistance directed at the rehabilitation of the railway sector in the country’s Northern Province, for which Government of India has committed a total amount of US$ 800 million in lines of credit on highly concessional terms.