Sri Lanka President says investors, deeper study, needed for new power projects

ECONOMYNEXT – Sri Lanka’s President Gotabaya had called for new investors for the power generation but foreign investments must come through proper procurement procedures backed by feasibility studies.

President Rajapaksa had said foreign countries had to be apprised of Sri Lanka’s policies on power to attract investment but proper procurement procedures had to be followed, his office said in a statement.

He had met the Ceylon Electricity Board, the state power utility, and the Sustainable Energy Authority, which promotes renewable power.

Minister of Power and Energy, Mahinda Amaraweera, State Minister Mahindananda Aluthgamage, Secretary to the President, P. B. Jayasundara , Secretary to the Ministry of Power and Energy, Wasantha Perera was at the meeting.

Among matters discussed was that while many agreements were signed with foreign countries, they were with private companies, not governments.

President had called for studies before implementing the agreements to assess the impact. (Colombo/Dec13/2019)