Home / TOP STORY/ Govt. flags off $ 2.2 b Light Railway Transit project

Govt. flags off $ 2.2 b Light Railway Transit project


Comments / {{hitsCtrl.values.hits}} Views / Thursday, 4 July 2019 03:17


Prime Minister Ranil Wickremesinghe  speaks with Megapolis and Western Development Minister Patali Champika Ranawaka at the launch of Japanese-funded Light Railway Transit (LRT) project. Right: Japanese Ambassador Akira Sugiyama - Pix by Shehan Gunasekara 

 

  • Project example of modernisation by Govt., says PM

  • Believes public witnessing birth of a new capital 

  • Prospect of LRT already increased land prices by 129%, says Ranawaka 

  • Project to commence in 2020 and open in 2025 

  • To reduce travel time from Malabe to Fort to 30 minutes 

  • Sixteen stations, 25 trains with 800-passenger capacity each

  • Funding from Japan on 40-year concessional loan

     

By Uditha Jayasinghe

Aiming to revolutionise Colombo’s transport system, the Government yesterday launched the $2.2 billion Japanese-funded Light Railway Transit (LRT) project, which Prime Minister Ranil Wickremesinghe said is one of the key ventures by the Government to modernise Sri Lanka. 

Speaking at the launch ceremony, Wic-kremesinghe praised Megapolis and Western Development Minister Patali Champika Ranawaka for spearheading the venture and formulating plans at a rapid pace so construction could begin next year. He also noted that the LRT project, together with the Port City and the elevated highway from the Kelaniya bridge, were examples of how the Government has worked to modernise Colombo. 

“We are witnessing the birth of a new capital. Despite all the challenges faced by the Government, we have still managed to push Sri Lanka towards modernisation. A country cannot grow by staying in the same place or moving backwards. We have to modernise – not just in transport, but education, healthcare, housing and other infrastructure. That is how Sri Lanka has transformed itself into one of the fastest growing cities in South Asia,” he said.

The Prime Minister also said that modernisation was aimed at ensuring the marginalised and underprivileged also benefit from development projects. He pointed out that under the Megapolis and Western Development Ministry, apartments have been built for low income families and efforts are being made to effectively utilise limited land within the capital. 

“Under the LRT project,disabled people will find mobility easier. Lower time and costs spent on transport means there will be a greater benefit to the economy,” he added.

Megapolis and Western Development Minister Champika Ranawaka emphasised the LRT would only be one aspect of the modernisation planned for Colombo. He noted that next year, the Manning Market would be moved out of Fort, and the railway and bus stations would be amalgamated into one multi-model transport hub.

“This corridor is set to be one of the fastest growing pieces of real estate in Colombo. Already since the project was announced, land prices in Malabe and surrounding areas have increased by 129%. In that sense, this project has already brought results to the people,” Ranawaka said. 

“This is one of the largest projects undertaken by the Government. The second and third phases from Malabe to Kaduwela and Malabe to Kottawa, respectively, will cost much less as we have already invested in the main infrastructure, including the depot facilities. This will have the most comfortable, safe, affordable, and passenger-friendly features in addition to park and ride facilities for selected stations and shopping malls to meet the daily needs of commuters.” 

The LRT is expected to reduce travel time between Malabe and Fort to just 30 minutes with 16 stations along the way. During peak hours, the trains will pass a station every three minutes, and limitedstop trains are expected to be introduced during off-peak hours that will reduce the time to 28 minutes. 

The project includes a LRT hub in Malabe with plans already underway to extend it to Athurugiriya or Kottawa, officials said. The Government is also planning to introduce the Light Railway Transit Act,which will provide the legal basis for the project to be developed and will provide the venture with the powers to establish a company to run and maintain the LRT system as well as provide a feeder bus system. Project officials hope to obtain funding from the Green Climate Fund.

The project is expected to start construction in 2020, after the completion of the details design and tender process, and it will be completed in 2024, allowing the LRT system to be opened to the public in 2025. Around 25 trains will be used for this LRT system and each train will be made up of four cars with a total capacity of 800 passengers. 

The total investment for the project is $2.2 billion, and $1.85 billion will be provided by the Japan International Cooperation Agency (JICA) as a soft loan. The interest rate of the loan for the civil works and procurement of equipment is 0.1%, and for the consultancy services is 0.01% per annum. The repayment period is 40 years, which includes a 12-year grace period. 


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Forensic Audits part of bond scam cover-up

Saturday, 25 January 2020

From the time the bond scam was carried out by the Ranil Wickremesinghe administration, that administration under the guidance of the former Prime Minister had been avoiding the law by regularly bringing up various distractions so that the true natur


Halting mega projects is untimely; Govt. can explore other options

Friday, 24 January 2020

In a Sunday newspaper on 5 January a news item titled ‘Mega projects on hold until August budget,’ ‘Drop in revenue after tax reductions prevents spending on major constructions,’ was not a development-friendly headline. It may be accurate o


Is any further expenditure on the Port City a waste of money?

Friday, 24 January 2020

Erase from the mind all that you have read and heard about it. Then take a blank piece of paper, draw an irregular circle, and draw a line to divide it into two. On the bottom half write 300 acres. That is our Port City! To get the size into a proper


Foundations of incivility

Friday, 24 January 2020

The lack of advanced political consciousness and democratic discipline can be considered as one of the main reasons for the crisis and the failure that Sri Lanka is facing. This can be considered a situation that has prevailed since independence. Sri


Columnists More