INDIAN POWER DEAL LIKELY TO BE INKED DURING KURSHID VISIT

The agreement on the implementation of the 500 MW Sampur Coal Power Project is likely to be signed during the visit of India’s External Affairs Min- ister Salman Kurshid to Sri Lanka next week, Daily Mirror learns.

The project will be implemented as a joint venture between the Ceylon Electricity Board and India’s National Thermal Power Corporation sharing the equity on an equal basis. The project is expected to be completed within three years.

Five agreements will be signed in relation to matters such as project implementation, land acquisition in Sampur, the purchase of electricity and the import of coal.

India is expected to approve a US$200 million credit line for the project. Two machines will be installed at the proposed plant, each with the capacity to generate 250 megawatts of electricity.

When asked whether the agreement would be signed during Minister Kurshid’s visit here, Power and Energy Ministry Secretary M.M.C. Ferdinando said it would be possibly signed in the presence of the visiting Minister. He said all matters related to the project were finalized and his Ministry was ready to sign the agreements at any time.

Mr. Ferdinado said he was in touch with our External Affairs

Five agreements will be signed in relation to matters such as project implementation, land acquisition in Sampur, the purchase of electricity and the import of coal

Ministry, which is coordinating Minister Kurshid’s visit. He will arrive in the country on a two-day visit to discuss bilateral issues. During his visit, he is expected to meet Northern Provincial Council Chief Minister-elect C.V. Wigneswaran.