US-based GE wins US$48mn Sri Lanka locomotive deal

ECONOMYNEXT – US-based General Electric Company has won 48 million US dollar deal to supply locomotives for SR Lanka’s state-run railway, the state information office said.

GE would be paid 4.056 million dollars each for 12 locomotives.

The locos will be deployed in Sri Lanka’s upcountry tracks.

Sri Lanka’s railway has been losing billions of rupees and is heavily overstaffed.

Sri Lanka Railways lost 6.7 billion rupees in 2016 on operations not counting depreciation. (Colombo/Feb16/2018)

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