business

Japan to fund Sri Lankan light rail system

19 Comments
By ISHARA S. KODIKARA

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© 2019 AFP

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19 Comments
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Yet people are still living in temporary shelters in Japan without any government assistance

7 ( +9 / -2 )

If the Sri Lankan’s cannot pat the Chinese back then how will they pay theJapanese?

Unless, other factors are at play...,

6 ( +6 / -0 )

Some of the slowest traffic in South Asian? Note to self-don't' go there.

2 ( +2 / -0 )

If the Sri Lankan’s cannot pat the Chinese back then how will they pay theJapanese?

It really doesnt matter to the J-govt since the loan is J taxpayer funded but the Sri Lankan govt will be required to use it to pay the J-Inc companies involved in this project. If and when Colombo defaults on it , J-taxpayer will take the hit and get screwed as always while J-Inc gets paid from J -taxpayer purse and LDP collects its brown envelopes as always. Drinks at Ginza all around on the long suffering taxpayer. Kampai!

5 ( +5 / -0 )

@marcelito So take the money from J tax payers and then give that money to J-inc. We are not going to get paid, just like what they did to China.

2 ( +2 / -0 )

Hooray...raise taxes and help another country when domestic issues are out of control. All while Japanese companies benefit from these contracts and line their pockets. Pathetic.

4 ( +4 / -0 )

Yep, they couldnt pay back the Chinese loan, so what did China do, take over the ports they finance for them and turn it into a navy base or soon to be..

In our case, I am not sure what Abe has planned, but most likely hold gov bonds..

0 ( +0 / -0 )

It's because of Buddhism Bond between two.

Fun Fact - There are more Buddhist in Sri Lanka than in Japan, even though they're different Buddhist.

0 ( +1 / -1 )

Loaning a distressed client money so the client can buy your stuff is a great business model. LOL.

I'm surprised the WTO allows this. Shouldnt these projects be done through open tender?

1 ( +2 / -1 )

LOL, Japanese government is wasting money on some light-rail system far away from Japan while turning down the bid to host the $7 billion International Linear Collider that would certainly produce Nobel prize winners, because Japan can’t afford big science anymore.

-2 ( +0 / -2 )

Not the first deal like this.  hope is that J companies benefit from supplying the contract.  Reality is that the money takes forever to come back.  Downtown Saigon has been a zoo for years because of a similar deal.

1 ( +1 / -0 )

Oh come on CERNs been colliding for years got nothing, this is only $250M, its "elevated", if they can pull this off, the potential global market is massive, it'll be bigger than bullet trains, and desperately needed by just about every big city there is, come on you Japanese Government critics, admit it, Abe won this one.

-2 ( +0 / -2 )

LOL, Japanese government is wasting money on some light-rail system far away from Japan while turning down the bid to host the $7 billion International Linear Collider that would certainly produce Nobel prize winners, because Japan can’t afford big science anymore.

Why is it a waste of money. It will benefit the people of Colombo. It's good to see that Japan is starting to act like a first world country and doing it's fair share for developing countries.

Of course Japan still has a way to go. Japan needs to accept more refugees and drastically reform it's legal system.

0 ( +1 / -1 )

Colombo traffic slows to an average speed of less than seven kilometers an hour during peak times, making it one of the slowest in South Asia.

The traffic in my (Japanese) city slows to 10 kmph during peak times. From what I've been told, it has been that way for the last 30 years. I wonder what speed Tokyo slows to during peak times.

3 ( +3 / -0 )

Of course if you go to Google you get a different take on the story. . .

Colombo light rail transit (LRT) project is the first of its kind to be developed in Colombo, the capital city of Sri Lanka. Chinese firm Seoyoung Engineering undertook the feasibility study for the project in November 2017 and submitted the same to the Sri Lankan Government in ...

Hmmmm ?

0 ( +0 / -0 )

It's good to see that Japan is starting to act like a first world country...

Yeah, right. First world train builders like the ones in Europe promote open tenders, competition and transparency for such projects, not "we will lend you our money if you use our products and services."

0 ( +1 / -1 )

Why can't Sri Lanka develop,build and pay for their railway themselves?

-2 ( +0 / -2 )

Why can't Sri Lanka develop,build and pay for their railway themselves?

Did you read the article?

Sri Lanka has seen a massive rollout of ports, highways and railroads in recent years but several ambitious infrastructure projects ended up as white elephants and left the country facing a mountain of debt -- mainly to China.

Unable to service its loans, the government of Prime Minister Ranil Wickremesinghe leased a Chinese-built port at Hambantota to a Beijing company for $1.12 billion in 2017.

2 ( +2 / -0 )

Why can't Sri Lanka develop,build and pay for their railway themselves?

Yeah, why can’t they just be first world, rather than going through the silly process of working to be such. Much better to just be first world than wasting time going through the efforts required to become first world.

If they were first world, they would understand this already. Like the poster I quoted.

1 ( +1 / -0 )

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