Opportunity Sri Lanka | » Sri Lankan President orders to expedite construction of 300MW coal power plant
Sri Lankan President orders to expedite construction of 300MW coal power plant

Sri Lankan President orders to expedite construction of 300MW coal power plant

Sri Lanka’s President Gotabaya Rajapaksa has reportedly ordered the state-run Ceylon Electricity Board (CEB) to expedite the construction of a 300 Mega Watt coal power plant to help overcome a power crisis.
“The cabinet paper says the President had ordered the Chairman of Ceylon Electricity Board to quickly enter into agreements to build the power plant in Puttalam to avoid an upcoming power crisis,” Co-Cabinet Spokesperson, Minister Bandula Gunawardene has said.
The last approved long term generation plan has estimated the cost of a third plant to be about US$ 500 million with some changes to coal unloading facilities.
The fourth plant was planned to be commissioned by around 2023.
Sri Lanka’s existing plants are built by China and a memorandum of understanding has been signed with China some time ago for an additional plant, local media reports state.

OSL take:

Sri Lanka’s economic expansion has created a growing demand for an uninterrupted power service. This has created many business/investment opportunities in Sri Lanka’s power and energy sector. The decision by the government of Sri Lanka to expand the country’s power generation mechanisms through cheaper alternatives has opened up new opportunities for foreign businesses engaged in the power business.

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Article Code : VBS/AT/20200616/Z_4

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