ADB to carry out study for financing Road-cum-Rail Link between India and Sri Lanka

ADB to carry out study for financing Road-cum-Rail Link between India and Sri Lanka

Minister of State for Road Transport and Highways Mr.P.Radhakrishnan urged Ministry of Railways to also plan for development of “Multifunctional/Multi-Model Logistics Park” at Thalaimannar in Sri Lanka, with the help of CONCOR that helps to improve the Trade and Commerce relationship between the two countries, stating that the proposed Rail-cum-Road Link will act as a strong Economic Corridor for both the countries for this century

New Delhi: The Government of India today said that the Asian Development Bank has been asked to carry out pre-feasibility study for financing road and rail link across Palk Strait between India and Sri Lanka. Stating this in a written reply in the Lok Sabha today, Minister of State for Road Transport and Highways P Radhakrishnan said that the project is in the conceptual stage and is subject to approval of government of Sri Lanka.

The Minister said that once the report from ADB is received, the same will be shared by the Indian government with the Sri Lanka Government for further examination.

Mr.Radhakrishnan said that both countries felt that not only there is an urgent need to enhancing of trade, commerce and bilateral relationships between the two countries, but also the collaboration in innovation, knowledge sharing, Science & Technology, Space Sciences, Communication, Information Technology and ICT, Agricultural cooperation, Research and Development etc for the betterment of the region in particular. The envisaged Road-cum-Rail line project between India and Sri Lanka will facilitate heightened economic cooperation in this important region of Southeast Asia, the Minister said.

Minister also urged Ministry of Railways to plan for development of a Multifunctional/Multi-Model Logistics Park near Thalaimannar in Sri Lanka for better movement of goods and supplies through Freight containers. He said that this initiative by Ministry of Railways will enhance the Trade and Commerce between the two countries and Rail-cum-Road Link will help speedier transportation of freight logistics by rail and road mode, and serves as the key Economic Corridor for both the countries.

The Minister also urged Confederation of Indian Industry, FICCI and other Organisations to engage with Sri Lanka in greater detail, for development of the industries covering the manufacturing, agro-products, life sciences, agriculture, Information Technology, heavy industries and the other core sectors.