Sri Lankan government approves plans to set up three LNG power plants to generate 1,400 MW power
The government of Sri Lanka has reportedly approved plans to set up three liquefied natural gas (LNG) power plants that would generate 1,400 MegaWatts of power in government-to-government deals with China, India and Japan.
The Cabinet of Ministers has approved a proposal on the projects presented by Power and Renewable Energy Minister Ranjith Siyambalapitiya.
According to the Cabinet proposal presented by the Minister, the power plants are required to meet the demand for electricity which is projected to see a marked increase after 2021.
Reports state that China has agreed to set up a 400MW LNG power plant in Sri Lanka’s Southern region, Hambantota. A Chinese company currently operates the Hambantota Port as well.
Japan and India have agreed to set up two other LNG power plants each with a capacity of 500MW, reports further state.
OSL take:
The approvals granted by the Cabinet of Ministers in Sri Lanka to set up three LNG power plants with Chinese, Indian and Japanese assistance has opened up opportunities for foreign companies interested in entering the island nation’s economy to explore opportunities in the country’s power and energy sector. Since the country is expected to face a power crisis after 2020, Sri Lanka’s power and energy sector has opened up for foreign investments. Companies could also look at opportunities to be part of the project to construct three LNG power plants.
| Article Code : | VBS/AT/18052018/Z_2 |