Sri Lanka’s Lanka Ventures invests in Bangladesh power

Sept 11, 2013 (LBO) – Lanka Ventures Plc, a unit of Sri Lanka’s Acuity Partners, group said it had invested 2.0 million US dollars in a 52.2 MegaWatt heavy fuel power plant in Bangladesh. Acuity Partners is owned by Sri Lanka’s DFCC and HNB banking groups.

Raj Lanka Power Company Ltd, promoted by Sri Lanka based Lakdhanavi has struck a 15-year deal to supply power bo Bangladesh Power Development Corporation, the firm told shareholders in the annual report.

It has received concessions including a 15 year tax holiday.

Lanka Ventures has other investments in hydro and wind power in Sri Lanka.

During the past year it has invested in Nala Dhanavi (Pvt) Ltd, which has built a 5MW wind plant in Sri Lanka’s Kalptiya peninsula. Lanka Ventures has taken a 49 percent stake in the company for 242 million rupees.

The firm has earlier invested in Pawan Dhanai (Pvt) Ltd, a 10MW wind plant, also in the same area.

Lanka Ventures also has invested in mini-hydro plants with a total capacity of 14.4 MW.