The 15.3km Green Line will run from Colombo Fort main line station in the west to Borella, Battaramulla and Malabe IT Park in the east. The line will serve 16 stations with journey time of 27 minutes between the termini.
The Sri Lankan government expects to conclude a $US 1.7bn loan with Jica by the end of the year, which will fully-finance the project. The 0.1%-interest loan will have a 40-year repayment term and a 12-year grace period.
Construction is due to begin in 2020 with commercial operations expected to start by 2024.