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<blockquote data-quote="monson" data-source="post: 20478051" data-attributes="member: 30005"><p><strong><span style="font-size: 18px">Japan to fund Megalopolis LRT system</span></strong></p><p></p><p><img src="http://www.dailynews.lk/sites/default/files/news/2016/07/28/z_pi-japan-to-fund.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p></p><p>A high level delegation from the Japanese Government concluded a visit to Sri Lanka yesterday.</p><p></p><p>The visit follows Cabinet approval for Light Rail Transit (LRT) system proposed in the Megalopolis plan, and a formal request from Sri Lanka to Japan for concessional financing for the project. The delegation, led by Japan’s Vice Minister Economy, Trade and Industry Hirofumi Katase confirmed their government’s willingness to finance Sri Lanka’s landmark project on deeply concessional terms.</p><p></p><p>The decision was conveyed following high level discussions with Sri Lanka Government officials on July 26, followed by a meeting with the Cabinet Committee on Economic Affairs on 27.</p><p></p><p>The two governments have agreed to expedite the detailed technical feasibility in order to initiate the physical implementation of the LRT as soon as possible.</p><p></p><p>“Confirmation of support from Japan for this critical investment under the Megalopolis plan marks a major milestone” said Ajita de Costa, Chairman of the Western Region Megalopolis Project.</p><p></p><p>“We can now put the debate on monorail vs LRT behind us, and move forward aggressively to get this project implemented.”</p><p></p><p>- <a href="http://www.dailynews.lk/?q=2016/07/29/business/88911" target="_blank">http://www.dailynews.lk/?q=2016/07/29/business/88911</a></p></blockquote><p></p>
[QUOTE="monson, post: 20478051, member: 30005"] [B][SIZE="5"]Japan to fund Megalopolis LRT system[/SIZE][/B] [IMG]http://www.dailynews.lk/sites/default/files/news/2016/07/28/z_pi-japan-to-fund.jpg[/IMG] A high level delegation from the Japanese Government concluded a visit to Sri Lanka yesterday. The visit follows Cabinet approval for Light Rail Transit (LRT) system proposed in the Megalopolis plan, and a formal request from Sri Lanka to Japan for concessional financing for the project. The delegation, led by Japan’s Vice Minister Economy, Trade and Industry Hirofumi Katase confirmed their government’s willingness to finance Sri Lanka’s landmark project on deeply concessional terms. The decision was conveyed following high level discussions with Sri Lanka Government officials on July 26, followed by a meeting with the Cabinet Committee on Economic Affairs on 27. The two governments have agreed to expedite the detailed technical feasibility in order to initiate the physical implementation of the LRT as soon as possible. “Confirmation of support from Japan for this critical investment under the Megalopolis plan marks a major milestone” said Ajita de Costa, Chairman of the Western Region Megalopolis Project. “We can now put the debate on monorail vs LRT behind us, and move forward aggressively to get this project implemented.” - [url]http://www.dailynews.lk/?q=2016/07/29/business/88911[/url] [/QUOTE]
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