The supply of 160 railway coaches is part of the line of credit agreement.
All the railway coaches will be tailored to meet requirements of Sri Lanka Railways.
Here’s How Many Railway Coaches India Is Selling To Sri LankaIndia has recently signed $82.64 million worth of contract agreement to deliver 160 passenger coaches to Sri Lanka Railways.
The agreement was signed by India’s state-owned engineering consultancy company RITES and the Government of Sri Lanka’s Ministry of Transport and Civil Aviation.
In June 2017, the EXIM Bank of India and the Government of Sri Lanka signed $318 million worth of line of credit (LoC) agreement for the supply of railway rolling stock, in addition to modernisation of rail tracks.
The supply of 160 railway coaches is part of the line of credit agreement.
All the railway coaches will be tailored to meet requirements of Sri Lanka Railways.
An official from the Sri Lankan Ministry of Transport said the new passenger coaches will be used to serve the growing demand of railway services due to increase in road congestion, as well as supporting tourism, reported DailyNews.
The statement further said, the new railway coaches will also enable the state railways to retire the older units.
