Daily News Online
   

Saturday, 7 January 2012

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | OTHER PUBLICATIONS   | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

US $ 382 m from India for rail revival

*Promoting closer connectivity

*Free passports for returnees

In a bid to promote closer connectivity between the people of the North and South, the government is to expedite the reconstruction of the Northern railway track, devastated by terrorists, with financial assistance from India.

The Indian government has agreed to provide a US $ 382.37 million credit line to Sri Lanka with concessionary rates for the restoration of the 56 km Northern railway track from Palai to Kankesanthurai.

The restoration project includes the installation of signal and telecommunication systems.

The Cabinet of Ministers on Thursday approved the memorandum by President Mahinda Rajapaksa in his capacity as the Minister of Finance to obtain the credit facility from India for the restoration of railway track.

The government is to enter into an agreement with the Export and Import Bank of India to obtain the credit facility shortly.

The government of India initially agreed to fund US $ 149.3 million to connect North of the country, for the first time in decades from Palai to Kankesanthurai and an agreement in this regard was reached on November 20.

US $ 86.52 million will be utilized for the setting up of signalling and telecommunication systems and US $ 146.51 million is to be utilized for other contracts that may be mutually agreed upon by two governments. This project is to be completed by 2013.

Meanwhile, the Cabinet of Ministers has decided to grant passports free-of-charge to Sri Lankans in Tamil Nadu who wish to return to the country.

Over 90,000 Sri Lankans who fled the country during the height of war, are staying in refugee centres in Tamil Nadu and those wishing to return to the country would be issued passports free-of-charge from the Sri Lankan High Commission in Chennai.

The proposal in this regard was submitted by President Mahinda Rajapaksa at the weekly Cabinet meeting. Each Sri Lankan will have to pay Indian Rs 4,400 to obtain a passport if this facility was not provided by the government.

EMAIL |   PRINTABLE VIEW | FEEDBACK

ANCL TENDER for CTP PLATES
Kapruka Online Shopping
Executive Residencies - Colombo - Sri Lanka
Gift delivery in Sri Lanka and USA
Telecommunications Regulatory Commission of Sri Lanka (TRCSL)
www.news.lk
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.army.lk

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright 2012 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor