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China Eximbank offers $245 million loan for the construction of a 56 km railway track [Cancelled]
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Sri Lanka |
| Country | Sri Lanka |
| Start Date | Jan 01, 2009 |
| End Date | Mar 15, 2031 |
| Duration | 8,108 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 33363 |
Grant Description
China Eximbank offers $245 million loan for the construction of a 56 km railway track [Cancelled] China Eximbank initially signed an agreement to provide US$ 245 million loan for the construction of a 56-kilometre railway track from Pallai (located on the northern edge of mainland Sri Lanka) to Kankesanthurai in the Jaffna peninsula.
China Railway Number Five Group was also supposed to carry out the construction for the railway track.
Perhaps due to opposition regarding the high cost China has placed for the project and , in the resource section), the loan agreement is suspended.
Instead, based on the 2011 Report on the 'Northern Province Development, the Indian government has agreed to finance the construction of the 56-km railway track; Indian Rites and Indian Railways Construction Company (IRCON) were given the contract to build the railway. The line between Pallai and Jaffna was re-opened on 13 October 2014.
The final stretch of the line, between Jaffna and Kankesanthurai, was re-opened on 2 January 2015.
Sources & References
- SRI LANKAN POST-WAR PROJECTS ARE GAINED BY CHINA
- Yal Devi to KKS from today
- New extended Northern Railway Line opens
- Chinese embrace may prove costly to Sri Lanka
- Chinese projects proving costly for Lanka
- Northern Province Development
- Railway Unions question on the cost
- India’s IRCON gets Pallai to KKS $ 150 m rail deal Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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Government of Sri Lanka
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