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* Sri Lanka power authority seeks international investors for Sampur power plant
Wed, Aug 13, 2014, 11:11 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 13, Colombo: Sri Lanka's power monopoly, state-run Ceylon Electricity Board (CEB) will call for tenders, from international investors, for the proposed Sampur Coal Power Plant, according to a local media report.

Sri Lanka and India finalized a deal to set up a 500 MW coal power plant at Sampur in the Trincomalee district of the Eastern Province in last October.

Sri Lanka's second coal fired thermal power plant is implemented as a joint venture of Ceylon Electricity Board and India's state-owned National Thermal Power Corporation (NTPC) through the joint venture company incorporated as Trincomalee Power Company Limited.

CEB Chairman, W.B. Ganegala has said that the selected investor will bear 70% of the cost of the coal power plant, while the CEB and the NTPC, will invest the balance, a report in Ceylon Today said.

The CEB will take a foreign loan, to cover 15% of the cost of construction of the proposed power plant while NTPC will bear the remaining 15%.

The total estimated cost of the project would be US$ 600 million.

According to CEB chairman the construction of the coal power plant will commence this year. The power generated will be transmitted to the national grid through high voltage transmission lines from Sampur through Habarana to the Veyangoda Grid Substations.

The project is expected to be commissioned by 2017. However, the CEB is reportedly still engaged in negotiations with its Indian partner.

** Related Story :: Sri Lanka, India to finalize agreement on power plant during Indian Minister\'s visit tomorrow

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