Sri Lanka and IRCON International Ltd signed agreement to upgrade rail track

Last Updated: July 20, 2019

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Sri Lanka and IRCON International Ltd signed agreement to upgrade rail track
20 July 2019 Current Affairs: Sri Lanka and IRCON (Indian Railway Construction Company) International Limited, under the Ministry of Railways, signed $91.26 million agreement for the up gradation of 130 km rail track 
The rail track is located between Colombo and Jaffna in Tamil majority northern province of Sri Lanka. 
It was signed by Sunil Kumar Choudhury, Chairman & Managing Director, Ircon International Limited, and L.P Jayampathy, Secretary, Ministry of Transport and Civil Aviation of Sri Lanka in the presence of Hon. Arjuna Ranatunga, Minister of Transport and Civil Aviation of Sri Lanka.
It is under Indian concessional financing between Maho to Omanthai, Sri Lanka which is going to happen for the first time in 100 years.
It includes 12 crossing stations, 7 halt stations and 78 level crossings.
A new crossing station will be constructed between Medawachchiya to Vavuniya, Sri Lanka and 218 culverts and 90 bridges will be repaired or reconstructed as required. 
It will double the speed potential of the railway track from the current 60 km to 120 km per hour.
India has committed Line of Credit (LoC) worth $1.3 billion for the development of the railway sector in Sri Lanka.
They upgraded around 300 km of railway track and provided modern signaling and telecommunication system for around 330 km in Sri Lanka.

About Sri Lanka:
Capital: Sri Jayawardenepura Kotte, Colombo
Currency: Sri Lankan rupee
Prime Minister: Ranil Wickremesinghe

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