Sri Lanka grants power sector contract to Siemens Limited of India and Sri Lanka’s DIMO Ltd
The Cabinet of Minister in Sri Lanka had last week granted approval to award the contract for to set up primary substations, distribution substations and cable construction under a national power improvement project to a joint venture between Siemens Limited of India and Sri Lanka’s DIMO Ltd.
The Cabinet of Minister had granted approval to award the Rs. 4.6 billion contract to the joint venture after considering a proposal presented by Sri Lanka’s Power, Energy and Business Development Minister Ravi Karunanayake.
Accordingly, the primary substations, distribution substations and cable construction in Dehiwala, Mount Lavinia, and Battaramulla areas will be upgraded under the National Transmission and Distribution Network Development and Efficiency Improvement Project.
OSL take:
The development programme carried out by the government of Sri Lanka covering all key economic sectors islandwide has resulted in the expansion of business/investment opportunities in the country. However, the largest number of business/investment opportunities have come forward in Sri Lanka’s power and energy sector. Sri Lanka is facing a looming power crisis due to increased demand. Foreign businesses/investors could therefore explore business opportunities in Sri Lanka’s power and energy sector or also looking at forming partnerships/joint ventures with local companies to bid for projects in the pipeline.
| Article Code : | VBS/AT/20191114/Z_1 |