A team from the EXIM Bank of India visited the project sites of the 252 km long Northern Railway line, currently being executed by IRCON International Limited, a subsidiary of the Indian Railways.
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The Export-Import Bank of India is the premier export finance institution of India, set up in 1982 under the Export-Import Bank of India Act 1981. Since its incorporation, the EXIM Bank has been a catalyst and a key player in the promotion of cross border trade and investment acting as a purveyor of export credit. So far the Bank has signed 159 lines of credit (LoCs) with 76 countries in Africa, Asia, Latin America, Europe, Oceania and the Commonwealth of Independent States (CIS).
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A team from the EXIM Bank of India comprising of the Bank's General Manager, Harsha Bangari, the Assistant General Manager Ambrish Bhandari and the Chief Manager Shalmali Jadhav undertook a site visit on 23 and 24 July to review the progress of the Northern Railway Lines. The team was accompanied by High Commission of India Counsellor (E&C) Manish, IRCON General Manager S. L. Gupta and other officials of IRCON.
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The US$ 652 million project of re-constructing the railway lines in the Northern Province of Sri Lanka from Medawachchiya to Talaimannar Pier and from Omanthai to Kankesanthurai is funded by the Indian Line of Credit of the EXIM Bank of India. The first segment of this project, namely the completed track from Medawachchiya to Madhu Road (43km) was handed over to the Government of Sri Lanka on 14 May 2013 for commercial operations. According to the General Manager of IRCON, S. L. Gupta, the second segment of the project from Omanthai to Kilinochchi, covering a distance of 63 km, is scheduled to be opened shortly.
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The re-construction of the Northern Railway Lines is the second railway project funded through the EXIM Bank of India. Previously the Bank was associated with the US$ 78 million project of the up-grading of the coastal railway line from Matara to Kalutara South, which was successfully completed by IRCON in April 2012.
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When contacted, the General Manager of IRCON, S. L. Gupta said that the team from the EXIM Bank of India is happy with the progress of the Northern Railway Lines and has commended the work carried out by IRCON and the role played by them in the development of the infrastructure sector of Sri Lanka, in particular, in connecting the war stricken North to Colombo.
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