China Construction gets Sri Lanka rail feasibility deal
Nov 12, 2015 15:35 PM GMT+0530 | 1 Comment(s)
ECONOMYNEXT – Sri Lanka has approved a deal with China State Construction Engineering Corporation Limited (CSCECL) to do a free feasibility study to upgrade rail links in the island’s east.
Government spokesman Health Minister Rajitha Senaratne said the comprehensive feasibility study is to modernise rail tracks from Maho to Batticaloa and from Galoya to Trincomalee, including upgrading of railway stations.
The Cabinet of ministers approved the proposal by Nimal Siripala de Silva, Minister of Transport and Civil Aviation, for the feasibility study, he told a news conference.
China State Construction Engineering Corporation Ltd., described by Moody's Investors Service as the largest construction company in the world in terms of revenues, will do the feasibility study free of charge to Sri Lanka’s government.
State-owned China Construction is China’s largest construction and real estate conglomerate and is listed on the Shanghai Stock Exchange. (Colombo/November 12 2015)