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The Airport Express Air and Rail Co. Ltd. (AEARC) of Malaysia will start an electric train system between Negombo and Colombo whilst a mega township is also planned with a combined investment of $ 450 million.
The company recently signed a contract with investors for the project. The contract was signed by Premiere Global Assets Ltd. President Dr. Shawana Khdir Ali, AEARC Managing Director Dr. Parimalan Rajo Iso Michael and Newport Global Group Ltd. of the US. Finance Minister Ravi Karunanayake was also present at the occasion.
The cost of AEARC’s detailed feasibility study for the high speed train system is around $ 5 million. The proposed project is comprised of a 42 km stretch of rail track between Negombo and Colombo Fort. Two terminuses have already been identified to be built both at the Katunayake Airport and Colombo Fort. The track will be comprised of two parallel railway lines between the destinations.
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The contract was signed last week by Premiere Global Assets Ltd, President Dr. Shawana Khdir Ali, AEARC Managing Director Dr. Parimalan Rajo Iso Michael and Newport Global Group Ltd. of the US in the presence of Finance Minister Ravi Karunanayake
The company recently signed a contract with investors for the project. The contract was signed by Premiere Global Assets Ltd. President Dr. Shawana Khdir Ali, AEARC Managing Director Dr. Parimalan Rajo Iso Michael and Newport Global Group Ltd. of the US. Finance Minister Ravi Karunanayake was also present at the occasion.
The cost of AEARC’s detailed feasibility study for the high speed train system is around $ 5 million. The proposed project is comprised of a 42 km stretch of rail track between Negombo and Colombo Fort. Two terminuses have already been identified to be built both at the Katunayake Airport and Colombo Fort. The track will be comprised of two parallel railway lines between the destinations.
01-5
The contract was signed last week by Premiere Global Assets Ltd, President Dr. Shawana Khdir Ali, AEARC Managing Director Dr. Parimalan Rajo Iso Michael and Newport Global Group Ltd. of the US in the presence of Finance Minister Ravi Karunanayake
