A major property development programme along the coast of the Indian Ocean is at the heart of the Sri Lankan government’s plans to revive its ailing state railway. A road-show for potential investors is to take place in Dubai, Singapore and Hong Kong, showcasing opportunities to develop 12 station sites overlooking the ocean. The Strategic Enterprises Management Agency hopes that hotels, apartments and offices can be built on Sri Lankan Railways property, most likely above the stations. SEMA hopes to raise up to US$1?2bn under the plan, which will be used to revitalise the coastal railway service around Colombo. SLR hopes to introduce a regular-interval suburban service along the Slave Island - Panadura route using air-conditioned stock from 2009.

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