New Delhi : Ircon, a railway construction public sector unit, will install signalling and telecommunication system in the Sri Lankan railway network.
The project, to be executed in the northern province of Sri Lanka at a cost of $86.51 million, is part of the $800-million credit India had extended at concessional terms. The credit has been extended at an interest rate of LIBOR plus 0.5 per cent with LIBOR capped at three per cent, to the country. The repayment period is 20 years with five year moratorium.
The proposed contract will cover the northern province of Sri Lankan, including section in Anuradhapura, Kankesanturai & Medawachchiya and Tallai Mannar, covering 313 km with 28 stations. Signalling work involves provision of centralised-control panel interlocking colour light signal with electrically operated points, and train detection system.
