Sri Lanka to procure 10 diesel engines from RITES India Ltd
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Posted on:12 Nov 2016 09:27:40
12 November 2016 Current Affairs: Sri Lankan government has decided to procure 10 diesel engines from RITES India ltd under credit line facility provided by Indian government.
Cabinet spokesman Gayantha Karunathilake said that the engines will be purchased at a cost of 4.25 million US dollars each and will be supplied over the period of next two years. India has been extending concessional line of credit (LoC) to Sri Lanka to support various projects in the infrastructure sector, including railways.
To date, over 1 billion US dollars of LoC has been extended to Sri Lanka for various railway projects. Prime Minister Narendra Modi inaugurated northern provincial rail line during his visit last year while another line connecting eastern and central provinces is being funded through the LoC.
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