Sri Lankan power engineering company awarded deal to build transmission lines for CEB
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).
The proposal to award the contract was submitted last month to the Cabinet of Ministers by Power Minister Ravi Karunanayake.
The contract is part of an Asian Development Bank (ADB) funded project to improve the efficiency of Sri Lanka’s power grid.
According to the state information department, the overall project is funded by a US$ 150 million and 30 million Euros.
OSL take:
The looming power crisis in Sri Lanka has resulted in the opening up of many business/investment opportunities in the country’s power and energy sector. The government of Sri Lanka is continuously exploring solutions to address the rapidly increase demand for electricity. The government is also focusing on sustainable energy generation methods. Therefore, Sri Lanka’s power and energy sector is a hotbed for business/investment opportunities.
| Article Code : | VBS/AT/03052019/Z_2 |