Emerald Sri Lanka Fund is to take a 20 percent stake in Pan Asian Power (PAP) in a proposed private placement at Rs. 3.20 a share with the money to be used to partly finance solar power projects, the local media has reported referring to a stock exchange filing.
East West Properties Limited of Sri Lanka has reportedly announced that the company has received about Rs. 3 billion in cash from the sale of a hotel to a Singapore-based firm.
Sri Lanka’s Government Information Department has stated that Ceylex Engineering, a local privately owned power engineering company, has won a Rs. 2,708 million deal to build transmission lines for state owned power utility company, the Ceylon Electricity Board (CEB).
An expert in Sri Lanka’s apparel industry has reportedly said that the country has the potential to achieve US$ 6 billion in apparel exports in 2020
Sri Lanka is to receive a concessionary loan of US$ 50 million (Rs. 8.7 billion) from Saudi Arabia to set up a fully-equipped medical faculty at state-owned Sabaragamuwa University in Ratnapura.