Oct 26, Colombo: A Japanese diversified conglomerate has expressed willingness to assist the development of Sri Lanka's power sector, the Economic Development Ministry said.

Japan's Tokyo based Sumitomo Corporation, a leading integrated trading company engaged in diverse businesses based on its global network, has offered to contribute to the power development in Sri Lanka.

During a meeting between a delegation of the firm and Economic Development Minister Basil Rajapaksa held at the Ministry premises in Colombo on October 24, Sumitomo has announced that it is ready to invest in power generation and distribution, provide technical and engineering expertise and the necessary financial support.

Senior General Manager of Sumitomo Corporation India (Pvt) Ltd. Yusuhiko Siromawa has assured Minister Rajapaksathat Sumitomo is planning to assist in the first, second and third phases of the coal power plant project now under construction in Trincomalee.

The Sumitomo Corporation has also expressed its intention to build a anothe thermal power plant with Japanese aid.