ADB support for Sri Lanka’s railway sector master plan
Oct 19, 2017 14:05 PM GMT+0530 | 1 Comment(s)
ECONOMYNEXT – The Asian Development Bank (ADB) has approved technical assistance to help prepare a master plan for the development of Sri Lanka’s railway sector for the next 20 years.
The ADB support will help Sri Lanka prioritize investments in key areas such as infrastructure, rolling stock, and equipment and also identify potential future projects for public and private sector funding.
These will include projects for possible ADB financing, according to the lender. The master plan covers the 2020–2040 period.
It will support the government’s strategy for public transport and the railway system, to meet current and future passenger and goods transport demand by ensuring quality, safety, and affordability with the widest possible modal mix and technological innovations.
By 2020, the program intends to double the share of railway passenger transport to 10% from 5% in 2015, increase the share of railway freight transport to 5% from 1%, and increase the share of public transport passenger movement to 65% from the present level of 58% in 2015.
The ADB will help the government prepare a strategy for the development of the railway transport subsector and the integration of railways with other modes of transport, supplementing prior and ongoing investments in roads and ports.
The railway master plan will assess the expected future railway demand based on the targeted market share, forecast the expected number of passengers traveling by rail, and suggest the means to achieve the targeted role of the railway in the transport sector.
(COLOMBO, October 19, 2017)