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Foreign investors to upgrade railway

by Rajmi Manatunga

The Railway Authority has decided to seek foreign investors' assistance to upgrade its services through a restructuring process.

Authority Chairman P.H Manatunga told the Daily News yesterday that several neighbouring countries including India have been earmarked as prospective investors who will assist the restructuring project expected to be concluded in three to four years.

Accordingly, assistance will be sought for the maintenance of rail tracks which is the most crucial component of the service and the management of other resources like rail carriages.

"Under the proposed restructuring, we will try to bring uniform fields of work into one category and seek financial assistance from other countries to manage them. Such a grouping will facilitate the process," he said.

The Chairman said that prior to the commencement of the restructuring, a study will be carried out to identify the weaknesses of the present system and test the feasibility of obtaining foreign investments for the railways.

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