ECONOMYNEXT – A 2.2 billion US dollar light rail transit project for Colombo, will ease congestion and boost economic activity, Sri Lanka’s Megapolis and Western Development Minister Champika Ranawaka said.
“We cannot continue to promote private transport, there is traffic congestion and negative fallouts,” Ranawaka said Wednesday at an official launch ceremony Wednesday.
“Already we are seeing the benefits from this projects. Land prices in areas like Battaramulla have doubled due to the confidence placed in the project.”
He said people who are losing land due to the project will be fairly compensated.
Ranwawaka said projects in Sri Lanka takes a long time sometimes decades to plan and execute.
The 2.2 billion US dollar project, which will be the first line of an LRT system criss-crossing Colombo is
being financed by Japan with a 2.2 billion US dollar loan. (Colombo/July05/2019)