Sri Lankan hydropower project covered by China Export Insurance Corp
ECONOMYNEXT – Sri Lanka has decided to accept China Export and Credit Insurance Corporation (SINOSURE) as a combined lender of the loan given for the Broadlands Hydropower Project, a 35 MW power plant in the Kitulgala area.
Government spokesman Health Minister Rajitha Senaratne told reporters the loan for the project was obtained from the Industrial and Commercial Bank of China (ICBC) with the required insurance cover taken from the China Export and Credit Insurance Corporation.
The project was awarded to China National Electric Engineering Company after calling for international tenders.
Construction has started and about 10 percent of the project completed, according to the Ministry of Power and Energy.