Malaysian company to invest US $ 100 million:
New speed railway project
A leading Malaysian company is to develop a US $ 100 million speed
railway project in Sri Lanka. The proposed railway from Colpetty to the
Katunayake Airport is aimed at the huge influx of expected tourist
arrivals in the coming years.
Dr Parimalan Rajo
Airport Express Lanka Ltd, Director Dr Parimalan Rajo Isa Michael
told Daily News Business that he is awaiting Sri Lankan Government’s
endorsement to commence the project next year. He said that an eight
storey hotel of international standards with a shopping complex in the
beach front will be constructed where tourists can check in from the
airport straight away at the Colpetty station.
A new railway track along the coastal line will be built parallel to
the existing line and it will be operated by wind power technology from
Electricity also will be used to a certain extent. Required land will
be leased to have ample parking space. This project will contribute to
the Sri Lanka Electricity Board, the tourism industry and other
Government agencies in a big way. The State Engineering Corporation will
design the entire project.
The 35 Km long railway track will be completed in two and a half
years without any cost to the Sri Lanka Government. Funding will be
provided by Malaysian and US companies.
Dr Michel said that this improvement of the railway station will
create a number of employment opportunities for Sri Lankans in the
fields of construction, engineering, labour supply and trading. The
hotel will be run by Malaysians and latest technology will be applied in
every system and software will come from Hong Kong.
The railway company is hoping to do 18 trips a day and 120 passengers
can be accommodated in a train.
The company is hoping to recover the investment in 15 to 25 years.