Sri Lanka to procure 10 diesel engines from RITES India Ltd.Sri Lankan government has decided to obtain10 diesel engines from RITES India ltd under credit line facility provided by Indian government. ii. Cabinet spokesman GayanthaKarunathilake reported that the engines would be purchased at a cost of 4.25 million US dollars each and would be supplied over the period of next two years. India has been extendingconcessional line of credit (LoC) to Sri Lanka to support various projects in the infrastructure sector, including railways.
iv. Prime Minister Narendra Modi initiated northern provincial rail line during his visit last year while another line connecting eastern and central provinces is being funded through the LoC.
v. RITES Limited( Rail India Technical and Economic Service) is an engineering consultancy company, specializing in the field of transport infrastructure. Established in 1974 by the Government of India, the company’s initial charter was to provide consultancy services in rail transport management to operators in India and abroad.