IRCON and Sri Lanka Railways Signed an Agreement on Infrastructure Development
International Current Affairs 2011. IRCON and Sri Lanka railways signed an agreement for supply and installation of the signaling and telecommunication system for railway network in Northern Province of Sri Lanka
IRCON and Sri Lanka railways signed an agreement for supply and installation of the signaling and telecommunication system for railway network in Northern Province of Sri Lanka. The cost of the project is 86.5 million dollars.
The project will cover the Anuradhapura-Medawachchiya and Kankasanthurai-Tallai Mannar sections. The total route length will be 341 km and the project will have 28 stations. The signaling work includes provision of centralized control panel, interlocking colour light system with electrically operated points and track detection system. All the level crossings will be interlocked with new signaling system, which would ensure safety at level crossings. The work on telecommunication comprises provision of optical fiber communication system throughout the section. Besides, public address system will also be provided at major stations.
The project is a part of Indian Line of Credit of 800 million dollars, which was extended by India at concessional terms. Moreover, the credit line was extended at an interest rate of LIBOR plus 0.5 percent with LIBOR capped at 3 percent. The repayment period is 20 years with a five year moratorium.
IRCON is a specialized Constructions organization covering the entire spectrum of construction activities and services in the infrastructure sector.