Sri Lanka cancels Japan-financed light rail project

The Sri Lankan government said on Tuesday it has canceled a light rail project that was to be built with Japanese financial assistance in the country’s biggest city of Colombo and its suburbs.The reasons given were that many houses and business premises would have to be destroyed during construction, important wetlands would be severely damaged, the cost of constructing the railway track on towers would be immense, and operating costs would excessive.The Japan International Cooperation Agency signed a concessionary loan agreement with Sri Lanka worth about 30 billion yen ($284 million)in March…

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