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NTPC to set up first overseas power plant in Sri Lanka
Sept 7: State-run power producer NTPC will set up a 500-Mw coal-based power plant in Sri Lanka by 2016, which will mark its foray into the overseas market.
The plant (2x250 Mw), estimated to cost Rs 3150 crore , will be set up at Sampur in Trincomalee. A joint venture agreement to this effect was signed between NTPC and the Ceylon Electricity Board (CEB) in Colombo.
NTPC already has a memorandum of understanding in place with the Bangladesh electricity board for setting up two power plants of a combined capacity of 1,320 Mw, at an estimated cost of Rs 7000-8000 crore. It is yet to formalise a joint venture (JV) for the venture in Bangladesh.
The JV for the Sri Lankan project will be incorporated in Sri Lanka, with NTPC and CEB each holding 50 per cent equity. The Sri Lankan government will give land for the project on a long-term lease.
Coal for the project will be imported and supplied by Lanka Coal Company (LCC) and the power generated will be supplied to the CEB.
Source: Business Standard
