Japan firm invests million dollars in Sri Lanka mini-hydro firm
ECONOMYNEXT – Zero Plus Co Ltd, a Japanese firm with interests in cosmetic, mail order and fitness, has invested $1 million in a mini-hydro company in Sri Lanka, project promoters said.
The 700 KiloWatt power plant in Erathna, Ratnapura, in Sri Lanka is expected to be commissioned in August 2017.
"As a business creation company, we develop a wide range of business projects globally, regardless of the type and category of industry," Director and Chief Executive of Zero Plus Co., Ltd Keiichiro Yatomi said in a statement."This initial project paves the way for more investments to be channeled towards the development of hydro power."
The investment into Erathna Power Company was structured by TAD Lanka Investments.
"This investment, which is an introductory venture, opens more avenues for the promotion of sustainable energy projects by a host of other Japanese Investors of TAD,” Chief Executive Atheeq Ansar said. (Colombo/Feb13/2017 – Upate II)